Announced on World Water Day, the grant will enable Water.org to significantly scale its WaterCredit program, which helps families secure small, affordable loans that are then used to access safe water and sanitation facilities. To that end, Water.org partners with microfinance institutions, which provide loans to individuals or families so they can install a water connection or toilet and then makes additional loans with the repaid funds. As of June 2015, the program had helped more than 2.6 million people in nine countries gain access to safe water and sanitation. The IKEA Foundation launched its partnership with Water.org in 2013 in Bangladesh.
"By supporting the development of game-changing approaches like WaterCredit, the IKEA Foundation is helping drive the critical innovation needed to end the water and sanitation crisis," said Water.org co-founder and CEO Gary White.
"IKEA Foundation believes that every child deserves a healthy start in life," said IKEA Foundation CEO Per Heggenes, "so we are supporting Water.org's innovative program to help families in Bangladesh, India, and Indonesia access safe water and better sanitation facilities, giving them improved health and a life of dignity."