Question 14
1. It puts microfinance tools to work in the water and sanitation sector.
2. It is a global initiative launched under the aegis of the World Health Organization and the World Bank.
3. It aims to enable the poor people to meet their water needs without depending on subsidies.
Which of the statements given above are correct?
AOptions
BSolution
WaterCredit is an initiative of Water.org, a non-profit organization co-founded by Matt Damon and Gary White, which focuses on solving the global water and sanitation crisis.
Statement 1: It puts microfinance tools to work in the water and sanitation sector. WaterCredit applies a market-based approach by providing small, affordable loans (microfinance) to individuals and families in developing countries to finance household water and sanitation solutions, such as installing a tap or toilet. This statement is correct.
Statement 2: It is a global initiative launched under the aegis of the World Health Organization and the World Bank. WaterCredit is an initiative of Water.org, which partners with local financial institutions. While WHO and the World Bank are involved in global health and development, WaterCredit is not directly launched under their aegis. This statement is incorrect.
Statement 3: It aims to enable the poor people to meet their water needs without depending on subsidies. A core philosophy of WaterCredit is to empower people with financial tools to invest in their own water and sanitation solutions, fostering self-reliance and sustainability. It moves beyond traditional aid models that rely heavily on grants and subsidies. This statement is correct.
Therefore, statements 1 and 3 are correct.
CStrategy
When encountering questions about specific initiatives or programs, identify the primary organization behind them, their core mechanism or approach (e.g., microfinance, grants), and their ultimate goal. Be cautious about attributing initiatives to major international organizations unless they are explicitly and widely known as the direct patrons.
DSyllabus Analysis
This question falls under Social Issues and Developmental aspects in India, particularly focusing on poverty alleviation, water and sanitation access, and innovative financing mechanisms like microfinance.
EQuestion Analysis
Medium. It requires specific knowledge about a particular social development initiative.