Announced on Thursday, the European Union Water Fund and the European Investment Bank have allocated €10 million to improve access to clean drinking water in marginalized regions across Africa and Asia.
According to a statement by the European Investment Bank, this financial commitment aims at sustainable and scalable solutions to enhance access to safe and affordable drinking water for underserved populations, particularly in Sub-Saharan Africa and Southeast Asia.
By 2030, the initiative aims to provide 20 billion liters of safe drinking water.
It was explained that the €10 million loan from the Global European Initiative complements other investment instruments, attracting additional private sector investors and supporting water projects and enterprises through innovative methodologies.
It was mentioned that one of the initial beneficiaries of this funding is a foundation in India specializing in drinking water solutions and water quality improvement in both rural and urban areas.
It is anticipated that this initiative will benefit over half a million families.
The European Water Fund leverages its financial resources to support water projects in low and lower-middle-income countries, aligning with the United Nations Sustainable Development Goals.
