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Caspian Debt has signed a memorandum of understanding with Water.org to promote the growth and development of the Water Sanitation and Hygiene (WASH) ecosystem.
Caspian Debt intends to deploy $10 million by 2028 for the WASH sector as the sector is currently underfunded and has immense potential for impact. The agreement increases the availability of funding for micro, small and medium enterprises (MSME) in the WASH sector.
With the support of Water.org, Caspian Debt plans to expand their funding pipeline of MSMEs/MFIs in the water and sanitation. Water.org will facilitate collaboration between Caspian Debt and banks, financial institutions, and multilateral agencies to access blended financing sources.
“Caspian Debt has been at the forefront of identifying new asset classes, and has been enabling credit to sectors like food and agritech, clean technology and ed-tech. With the combined strength of our institutions and networks, we intend to improve the flow of funds to the WASH sector,” said Viswanatha Prasad, Managing Director, Caspian Debt.
Since 2005, Water.org has played a significant role in India’s progress toward improving water and sanitation, empowering more than 13.8 million people with access to safe water and sanitation.
“Water.org pioneers market driven sustainable financial solutions to address the global water and sanitation crisis. Our technical assistance and capacity building support to financial institutions like MFIs, banks, self-help group promoting institutions (SHPIs) have resulted in these institutions looking at WASH as one of their mainstream product offerings to their customers. Our collaboration with Caspian strives to catalyse commercial capital into the WASH sector thereby providing impetus to rapid scaling of this sector in India.” said Manoj Gulati, Managing Director- Water.org India.
Through this collaboration, the WASH companies in the Caspian Debt portfolio will receive technical, monitoring, and evaluation support from Water.org team. Caspian Debt will also ensure that their WASH portfolio companies participate in the impact studies initiated by Water.org to improve the body of knowledge for the WASH sector.
Caspian Debt has funded more than 140 companies pan-India that include both technology driven and brick & mortar businesses across a range of high impact sectors.
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