IRVINE, Calif., Feb. 16 /PRNewswire/ -- WaterHealth International, Inc. (WHI) today announced that the International Finance Corporation (IFC) has approved an agreement with WHI for a $15 million project financing facility. The facility is in the form of long term loans to help more than 600 communities in India fund the purchase of WaterHealth Centres over the next 18 months, with the capacity to serve more than three million people.
"In response to the need to address the urgent problem of waterborne diseases, WaterHealth plans to expand rapidly," said Dr. Tralance Addy, Chairman and CEO, WaterHealth International. "As we continue to do so as a result of strong demand, our need for capital to help communities finance these systems also increases. We are pleased, particularly in these challenging economic times, that IFC has elected to strengthen its relationship with WHI."
IFC South Asia Director, Paolo M. Martelli, said, "IFC's first in distributed water services sector in India, the project will provide access to affordable and clean drinking water to rural households. Clean water availability will have other positive impacts on health, education and gender equality. As more villages are added, the project will help generate local employment and provide training, significantly improving earnings of rural households."
WHI has more than 600 installations of its water purification and disinfection systems in developing countries around the world, with over 200 systems currently operational in India.
Last month, WHI announced the first close of its Series D funding for a total equity investment of more than $10 million.
WaterHealth International, Inc. provides innovative business solutions to one of the world's most desperate health crises, the lack of safe, clean and affordable water for the more than two billion people who have little or no access to it. WHI's award winning water purification and disinfection technology, combined with creative and unique business approaches, enable the delivery of highly affordable, clean water to even the most remote and underserved communities. WHI invests in health and hygiene education programs as part of its normal business practices to combat waterborne diseases in the communities it serves. WHI's website is www.waterhealth.com.
IFC, a member of the World Bank Group, creates opportunity for people to escape poverty and improve their lives. We foster sustainable economic growth in developing countries by supporting private sector development, mobilizing private capital, and providing advisory and risk mitigation services to businesses and governments. Our new investments totaled $16.2 billion in fiscal 2008, a 34 percent increase over the previous year. For more information, visit www.ifc.org and www.ifc.org/southasia.
|SOURCE WaterHealth International, Inc.|
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