Water.org, a leading international development agency, has signed a Memorandum of Understanding (MOU) with IPDC Finance Limited, a leading private sector financial institution of Bangladesh.
This MOU is to underpin the development of a strategic collaboration between IPDC Finance Limited and Water.org on the disbursement of WaterCredit, bringing small, affordable loans and expert resources to make household water and sanitation solutions a reality.
Under the MOU, an embedded solution may be used to tie both IPDC, Water.org, manufacturers/retailers, and consumers to create a high impact-low risk product to facilitate the WaterCredit initiative by IPDC.
Both the parties will collaborate and cooperate to ensure integration of the WaterCredit initiative and develop a standard operative procedure for defining the engagement between themselves.
Water.org agreed to provide technical assistance for developing and operating the WaterCredit program/scheme in light of the objective of Water.org; and shall assist IPDC with technical know-how, data-driven analysis, and decision-making.
