Ujjivan Small Finance Bank (Ujjivan SFB) has recently unveiled a strategic partnership with Water.org, a renowned global non-profit organization dedicated to providing access to safe water and sanitation through affordable financing solutions. This collaboration holds significant promise for addressing the pressing issue of water and sanitation in India, which boasts the world’s highest population.
Aiming for Accessible Solutions
- Under this groundbreaking partnership, Water.org will collaborate with Ujjivan SFB to identify areas in need of financing for clean water and hygienic sanitation.
- The collaboration will extend beyond mere financial support, with Water.org offering technical assistance, market assessments, development of Information, Education, and Communication (IEC) materials, as well as monitoring and evaluation support.
Financial Support for Water and Sanitation Facilities
- Ujjivan SFB, in line with its commitment to social responsibility, will provide loans ranging from ₹6,000 to ₹1,00,000 to both existing and new customers.
- These loans aim to empower individuals to construct or renovate water and sanitation facilities in their communities.
- Last year alone, Ujjivan SFB disbursed over 5,000 Water and Sanitation (WATSAN) loans totaling ₹30 crore, aligning with the Swachh Bharat mission of the Indian government.
Ambitious Goals for the Future
- Through the Water.org and Ujjivan SFB partnership, the bank aspires to reach 65,000 households over the next three years, providing them with affordable loans for the construction of safe drinking water and sanitation facilities.
- This ambitious initiative aligns with Ujjivan SFB’s broader mission to improve the standard of living for citizens, enabling them to lead more dignified lives.
Addressing Challenges through WATSAN Loans
- The introduction of Water and Sanitation (WATSAN) loans addresses the challenges of safe drinking water, proper sanitation, and a hygienic environment.
- These loans are categorized under Group Loans, aiming to create low-cost infrastructure to facilitate widespread access to essential services.
About Ujjivan Small Finance Bank Limited
- Ujjivan Small Finance Bank Limited, a leading small finance bank, commenced operations in February 2017.
- With a robust presence across 26 states and union territories in India, Ujjivan SFB serves over 79 lakh customers through its 700 branches and a dedicated team of 21,000+ employees.
- The bank’s commitment to financial and digital inclusion is evident in its gross loan book of ₹26,574 crore and a deposit base of ₹29,139 crore as of September 30, 2023.
- Water.org, a global non-profit organization headquartered in the US, operates in more than 11 countries.
- Focused on creating access to safe and cost-effective drinking water and sanitation facilities for the underprivileged, Water.org has pioneered market-driven financial solutions to address the global water crisis.
- The organization has empowered over 60 million people with access to safe water or sanitation, with a significant impact in India since 2004, reaching over 24 million people and mobilizing over INR 10,500 crore through innovative partnership models.
Important Questions Related to Exams
Q. Who has Ujjivan Small Finance Bank recently partnered with?
Answer: Ujjivan SFB has recently unveiled a strategic partnership with Water.org.
Q. What is the primary focus of Water.org, the global non-profit organization involved in the partnership?
Answer: Water.org is dedicated to providing access to safe water and sanitation through affordable financing solutions.
Q. What is the ambitious goal set by Ujjivan SFB through its partnership with Water.org for the next three years?
Answer: The bank aspires to reach 65,000 households, providing them with affordable loans for the construction of safe drinking water and sanitation facilities.