SNV and Fidelity Bank initiate revolving fund for WASH-projects in Ghana
Dutch development agency SNV, in collaboration with Fidelity Bank as the fund manager, initiated a revolving fund of 4 million euro, enabling 3,000 micro loans for households to obtain water and sanitation facilities, such as latrines, toilets and connections to potable water.
In addition, over 500 micro, small and medium enterprises (MSMEs) within the WASH-sector will benefit from pre and post loan business development support to facilitate loan acquisition and repayment.
The special WASH-financing is part of the Ghana Netherlands WASH Programme (GNWP) and was launched on 5 May in Accra, Ghana.
Different models of toilets were shown at the P2P launch ceremony.
Action urgently needed
Launching the Possible to Profitable (P2P) project, Nii Laryea Afotey Agbo, Greater Accra Regional Minister, praised the Netherlands Embassy in Accra for the keen interest and support to the country's waste management under the Ghana-Netherlands WASH programme. He assured the government’s assistance to ensure the success of the fund.
Dutch ambassador to Ghana, Hans Docter (top photo) described the situation in Ghana as critical, and mentioned that action is needed urgently. "The mentality has to change, and the private sector also needs to play its role in providing the relevant products", he said.
New model for public-private financing
The P2P project is scaling-up access to finance and technical assistance for micro, small and medium enterprises and households in Ghana. The goal is to increase access to WASH products and services by urban and rural households in Ghana.
Appropriate lending products will be developed for the WASH sector including loan products for specific segments of the market including income, size of business and gender.
P2P is expected to serve as a model for a finance and private sector driven approach to sanitation financing in Ghana.
In addition to the revolving fund, 2 million euro has been allocated for capacity building of MSMEs and project management.
This news item is based on the original publication on the website of Ghana Netherlands WASH Programme.
More information
Ghana Netherlands WASH Programme
Accra, Ghana
+233 (0) 302 798 329
www.gnwp.nl
SNV
Accra, Ghana
+233 (0) 30 701 2440
www.snvworld.org/en/countries/ghana