Commemorating World Water Day, NABARD, along with its NBFC subsidiary NABSAMRUDDHI, has launched the first phase of a nationwide funding awareness campaign -- 'Climate Ready WASH' -- for women joint liability group (JLG) borrowers of microfinance institutions, to take forward the common mandate of sustainable rural development.
To kickstart the campaign, an event was organised at NABARD Mumbai inaugurated by Shaji KV, Chairman, NABARD.
Emphasising the criticality of water availability for the marginalised segments, Shaji KV in his address talked about the need to focus on impact rather than returns to support them, a statement said.
“Water is a public good but the water balance is changing due to climate change. It is the most marginalised who face the brunt of climate risk and their livelihoods are getting affected,” the official said.
He noted that the public finance institution is eyeing innovative solutions to support the most needy segment in partnership with the Panchayati Raj institutions, civil society organisations and government agencies to create a larger impact.
“Awareness generation is key to such solutions,” he said, adding that NABSAMRUDDHI has piloted the 'Climate Ready WASH' programme under which the campaign to create awareness among end borrowers has been kick-started.
“The mainstreaming of the initiative will help address these challenges as well,” he added.
To promote sustainable livelihoods, NABSAMRUDDHI has been offering concessional wholesale WASH loans by utilising NABARD refinance along with technical assistance from its partners Water.org and FINISH Mondial.
Through 32 partner institutions, the NBFC has so far contributed $45 million in WASH funding, reaching 75,000 end borrowers, 90% of whom are women, the statement read.
The 'Climate Ready WASH' campaign will cover 40 block-level camps in climate-vulnerable areas across seven states in the country in Phase I through FINISH Mondial.
Emphasising the need for collaborative action in funding the last mile segment, Bonani Roychoudhury, NABSAMRUDDHI MD underscored COP27 and COP28 declarations on climate-resilient WASH.
“Financing such solutions is expected to result in climate risk mitigation and adaptation for the vulnerable and augment health, productivity, incomes, quality of life of rural women while addressing the issues of gender equity, empowerment, safety and dignity,” Roychoudhury said.
Among the products to be covered for financing will include majorly these solutions -- climate smart toilets, rainwater harvesting for borewell recharge, rainwater harvesting for storage and solarisation of pumps.
At the event, an MoU was also signed between NABSAMRUDDHI and the Climate Policy Initiative (CPI) to collaborate on financing climate-smart solutions.
(Edited by : Sudarsanan Mani)
First Published: Mar 23, 2024 2:19 PM IST
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