This loan helps fund a new product Fundación Paraguaya has launched called "Ikatu Agua" that will enable people in remote communities to dig wells, build pipelines and install water meters to expand access to clean drinking water. Loans like these are given to either sanitation boards (which represent their entire communities) or individuals.
The sanitation board contracts builders and oversees construction of water distribution systems, while collecting repayments from impacted community members. These repayments are pooled and returned to Kiva to be credited to lenders.
Individuals can access this loan too to invest in connections or drinking water installations inside of their homes, as well as invest in their water provider/distribution business for their community.
About Fundación Paraguaya:
Fundación Paraguaya is a financially self-sustaining social enterprise that promotes entrepreneurship in urban and rural areas through microfinance, education programs, and more. Its focus on agriculture has helped many farmers boost their crop yields. And a number of other borrowers have taken out loans to start and grow social businesses that have helped deliver eyeglasses, medicines and other helpful services in their local communities.