With reference to ‘Water Credit’, consider the following statements:
1.It puts microfinance tools to work in the water and sanitation sector.
2.It is a global initiative launched under the aegis of the World Health Organization and the World Bank.
3.It aims to enable the poor people to meet their water needs without depending on subsidies.
Which of the statements given above are correct?
Answer:
(c)
Non-traditional
CA
Water Credit is the first to put microfinance tools to work in the water and sanitation sector. Hence, statement 1 is correct. The model empowers people to address their own water and sanitation needs in developing countries who often lack access to traditional credit markets. It eliminates the need for subsidies. Hence, statement 3 is correct. WaterCredit is a global initiative launched by Water.org, a non-profit organization working to bring water and sanitation to the world. Hence, statement 2 is not correct. Therefore, option (c) is the correct answer.