World Bank Group member, International Finance Corporation (IFC), has approved $820,000 for dloHaiti, a water distribution firm in Haiti.
The funding will support the installation of kiosks that will provide affordable, safe drinking water to underserved Haitian communities, while creating 600 new jobs.
This funding is being made under IFC InfraVentures, an early-stage equity investment fund which supports infrastructure projects in the world’s poorest countries.
Commenting on the initiative, dloHaiti founder and CEO Jim Chu said that the company will install its first 40 water kiosks, which will provide filtered water to more than 145,000 people, mainly in small towns and rapidly-growing peri-urban areas.
"Access to safe drinking water has been one of Haiti’s most critical public health problems. Our vision is to address this need with a market-based solution that is both sustainable and efficient," added Chu.
Currently, IFC’s portfolio in Haiti accounts to be around $52m, including $13 million mobilized from other partners.