Caterpillar 2011 Annual Report Download - page 46

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Caterpillar Foundation 46
WHAT THE WORLD NEEDS | 2011 YEAR IN REVIEW
Chairman’s
Message
Construction
Industries
Customer &
Dealer Support
Financial Products &
Corporate Services
The Caterpillar
Foundation Leadership Performance
Resource
Industries
Energy &
Power Systems
On November 29, 2011, the Caterpillar Foundation and Water.org
announced a $3 million partnership to reach more than 218,000
people with clean water and sanitation over a three-year period.
The program will support a significant expansion of Water.org’s
WaterCredit activities in India, and it will fund a market assessment
to explore the launch of WaterCredit in Indonesia. WaterCredit
facilitates small loans for water and sanitation access for people
living in poverty who do not have access to basic necessities.
“We are honored to be working with the Caterpillar Foundation
on this high-impact program,” said Water.org Chief Executive
Officer and Co-Founder Gary White. “Because of the Caterpillar
Foundation’s generous support, we will reach more people with
clean water and sanitation, at a faster rate, and at a decreasing
philanthropic cost per person.”
The Caterpillar Foundation grant will support two WaterCredit
programs in India. This initiative includes the expansion of a
revolving loan fund managed by one of Water.org’s partners in
Bangalore to provide an additional 38,000 people with access
to microloans for clean water and sanitation. Through this
financial model, once a loan is repaid, it is then re-lent to another
person in need.
“The Caterpillar Foundation supports a number of basic human
needs programs in areas where Caterpillar has a presence,” said
Caterpillar Corporate Public Affairs Director Jim Baumgartner.
“The sustainability of Water.org’s model is really what drew us to
WaterCredit. This program will provide clean water and sanitation
facilities to thousands of families in India, but the cycle of
progress will continue as the loans are repaid and these
funds are provided to others in need.”
The Caterpillar Foundation grant also supports Water.org’s work
with existing microfinance partners in Bangalore and Tamil Nadu,
India. The funds will help facilitate WaterCredit loans for sanitation
purposes, enabling more than 180,000 residents to gain access
to hygienic sanitation facilities. In addition, the grant will fund
an initial market assessment and lay the groundwork for the
launch of WaterCredit in Indonesia.
Progress &
Sustainability
A $3 million grant will bring clean
water and sanitation to hundreds of
thousands over the next three years.
Photo: Water.org