The World Bank has dedicated a $50 million fund for the creation of 300,000 water purifiers to be distributed to roughly 8,000 schools in Vietnam over the next five years.
“The Emission Reduction-Linked Bond comes at an important time in the global efforts to scale up low-carbon solutions in developing countries. With this pilot transaction, we can demonstrate another path for capital market investors to support the financing and implementation of climate actions. Investors will directly benefit from the project’s success, as will the children in Vietnam who will get access to clean drinking water as a result,” says the World Bank Group President David Malpass.
As there will be no more need to burn biomass used in boiling water to make it potable, the purifiers are expected to reduce greenhouse gas emissions by almost 3 million tons, while providing two million children with clean water. The Vietnamese Ministry of Education and Training will distribute the water purifiers to beneficiary schools; the chosen institutions were selected due to their prior lack of access to safe drinking water.