New Delhi: Impact Investing solidify Caspian debt today announced plans to deploy $10 million in funding by 2028 for the water sanitation & Hygiene (WASH) saying he thinks the sector is underfunded and has immense potential for impact.
The company said it has also signed a memorandum of understanding with Water.org and the agreement is likely to increase the availability of finance for micro, small and medium-sized enterprises (MSMEs) in the sector. The investment is expected to benefit approximately 50,000 households.
“Caspian Debt has been at the forefront of identifying new asset classes and providing credit to sectors such as food and agritech, cleantech and education. Our goal is to demonstrate that water and sanitation is a new creditworthy asset class,” said Viswanatha Prasad, Managing Director of Caspian Debt.
As part of the agreement, Water.org will facilitate collaboration between Caspian Debt and banks, financial institutions and multilateral agencies to access blended sources of finance. WASH companies in the Caspian Debt portfolio will receive technical, monitoring and evaluation support from Water.org.
Caspian Debt, promoted by Caspian Advisors, has funded over 140 companies across India which include both technology-driven and brick-and-mortar businesses across a range of high-impact sectors such as agribusiness, clean technologies, education and employability, health care, small businesses, lending and the provision of essential services.