Water.org Announces Launch of $1 Billon Water Access Fund

Water.org Announces Launch of $1 Billon Water Access Fund

Water.org, co-founded by actor Matt Damon and Gary White, has announced the launch of a $1 billion fund to support water access for underserved people in Africa, Asia, and Latin America.

Announced during the Clinton Global Initiative (CGI) conference, the Water & Climate Fund has the potential to help 100 million people in Africa, Asia, and Latin America gain lasting access to water and sanitation, the Washington Post reports. Including an initial $10 million investment from Amazon, the fund will use $50 million in philanthropic capital to create an investment portfolio aimed at bringing new water delivery and wastewater treatment projects to underserved communities, then use those communities’ utility bills to fund further projects.

According to the New York Times, Water.org emerged from the 2008 CGI, when White and Damon met. At the time, they each had launched water-focused nonprofits, and in 2009 they announced they had merged their groups.

“Please don’t be afraid to engage,” said Damon at the 2022 conference.

Source link