Ahmedabad-based Microfinance Institution, Pahal Financial Services Pvt. Ltd., recently raised debt capital worth 5 million US dollars from WaterEquity, a USA-based impact investment asset manager.
The organization has touched the lives of more than 8 lakh individuals, a majority of them being women borrowers. Pahal has been working towards providing funding for clean water and proper sanitation facilities to marginalized communities since the last two years.
The organization has developed strategies which are in line with the United Nation's Sustainable Development Goal - 6 (Clean Water and Sanitation for all).
Till date, Pahal has impacted more than 10,000 households by providing access to funding for clean drinking water, sanitation and toilet facilities. This debt capital will help the Ahmedabad based MFI to further on-lend to women borrowers from low-income households, increasing their access to clean water and toilet facilities.
Speaking on the occasion, Sridhar Sampath, South Asia Regional Director at WaterEquity, comments "In partnering with Pahal, WaterEquity is able to support sustainable growth in access to water and sanitation in emerging markets. Together, we are accelerating an end to the global water and sanitation crisis for millions of women, children, and men in India."
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( With inputs from ANI )
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