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
|SOURCE WaterHealth International, Inc.|
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