Water.org unveils $1 billion plan for water access at CGI
By GLENN GAMBOA
AP Business Writer
NEW YORK (AP) — Water.org announced a $1 billion plan Tuesday to help 100 million people in Africa, Asia and Latin America get lasting access to water and sanitation. The Water.org Water & Climate Fund, unveiled at the Clinton Global Initiative conference in New York, plans to use $50 million in philanthropic money to create a billion-dollar investment portfolio to help bring new water delivery and wastewater treatment projects to underserved communities, then use those communities’ utility bills to fund further projects. Amazon donated the first $10 million of philanthropic money needed for the fund. It was the day’s largest proposal at the conference, which convened world leaders from politics, business and philanthropy for the first time since 2016.