Varthana Secures $6 mn Loan to Extend Safe Water Access in Schools
Access to safe water, sanitation, and hygiene (WASH) facilities is a fundamental human right, essential for maintaining good health, dignity, and well-being. Unfortunately, millions of people around the world, particularly in low-income communities, lack access to these basic necessities. In India, the situation is no different, with many schools struggling to provide adequate WASH facilities for their students. To address this issue, Varthana, a leading education-focused financing company, has secured a $6 million loan from WaterEquity, a social impact investment fund dedicated to improving access to safe water and sanitation.
The loan will be used to expand access to WASH facilities in underserved schools across India, supporting infrastructure upgrades, new installations, and maintenance of WASH systems. This initiative aims to improve health, attendance, and learning outcomes for students in low-income communities, who are often disproportionately affected by the lack of access to safe water and sanitation. By providing access to clean water, sanitation facilities, and promoting good hygiene practices, Varthana and WaterEquity hope to create a healthier and more supportive learning environment for thousands of students.
The partnership between Varthana and WaterEquity is a significant step towards addressing the WASH crisis in Indian schools. According to the UNESCO Institute for Statistics, in 2019, only 56% of schools in India had access to basic drinking water services, while 24% had limited or no access to sanitation facilities. The lack of access to WASH facilities has severe consequences for students, including increased risk of water-borne diseases, absenteeism, and poor academic performance. By investing in WASH infrastructure, Varthana and WaterEquity are not only improving the health and well-being of students but also enhancing their educational outcomes.
Varthana’s approach to addressing the WASH crisis in schools is holistic and multifaceted. The company works closely with schools to assess their WASH needs and develops customized solutions to address these gaps. This includes providing financing for infrastructure upgrades, such as installing new water tanks, toilets, and handwashing stations, as well as promoting good hygiene practices among students and staff. By taking a comprehensive approach to WASH, Varthana aims to create sustainable and long-term solutions that benefit not only the students but also the broader community.
The $6 million loan from WaterEquity is a significant milestone for Varthana, demonstrating the company’s commitment to improving access to WASH facilities in underserved schools. WaterEquity, founded by Matt Damon and Gary White, is a leading social impact investment fund that has invested over $50 million in water and sanitation projects around the world. The partnership between Varthana and WaterEquity is a testament to the growing recognition of the importance of WASH in achieving the United Nations’ Sustainable Development Goals (SDGs), particularly SDG 4 (Quality Education) and SDG 6 (Clean Water and Sanitation).
The impact of Varthana’s WASH initiative is expected to be significant, with thousands of students benefiting from improved access to safe water, sanitation, and hygiene facilities. By providing a healthier and more supportive learning environment, Varthana hopes to improve student attendance, retention, and academic performance, ultimately contributing to the reduction of poverty and inequality in low-income communities. The initiative also has the potential to create jobs and stimulate local economic growth, as schools invest in WASH infrastructure and promote good hygiene practices.
In conclusion, the partnership between Varthana and WaterEquity is a significant step towards addressing the WASH crisis in Indian schools. By providing access to safe water, sanitation, and hygiene facilities, Varthana aims to improve the health, attendance, and learning outcomes of students in low-income communities. The $6 million loan from WaterEquity is a testament to the growing recognition of the importance of WASH in achieving the SDGs and improving the lives of millions of people around the world. As Varthana continues to expand its WASH initiative, it is likely to have a lasting impact on the lives of thousands of students, contributing to a healthier, more equitable, and more prosperous future for all.
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