UPSC Prelims 2021 question on Water Credit Water Org

Statement by statement

Statement 1 — CORRECT: Water.org is a global nonprofit organisation that started the WaterCredit loan initiative to address the barrier of affordable financing for safe water and sanitation. WaterCredit is the first to put microfinance tools to work in the water and sanitation sector — bringing small loans to those who need access to affordable financing.

Statement 2 — INCORRECT: WaterCredit is an initiative of Water.org, NOT a global initiative launched under the aegis of the World Health Organization and the World Bank.

Statement 3 — CORRECT: People in need use these small, affordable loans to put a tap or toilet in their homes and access local resources to do the work. It enables poor households to meet their water and sanitation needs without depending on subsidies. Every repaid loan can be lent to another family in need.