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EIB’s Water Sector Fund Invests €10 Million in W2AF for Water Access in Africa and Asia

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Autor: Sarah Hofer

This new initiative is projected to deliver 20 billion liters of safe drinking water by 2030.
Source: Pixabay/artsysolomon

May 24th, 2024 l The Water Sector Fund, overseen by EIB Global, is set to allocate €10 million to the Water Access Acceleration Fund (W2AF), managed by Incofin, a leading global impact investment firm.

 W2AF is a “water-focused” blended finance impact fund aimed at implementing sustainable and scalable solutions to enhance access to safe, affordable drinking water, particularly for underserved populations in Sub-Saharan Africa and South and Southeast Asia. This new initiative is projected to deliver 20 billion liters of safe drinking water by 2030.

Impact and Partnership

The €10 million anchor investment by EIB Global will not only secure additional investments but also attract more private investors to W2AF. Through the fund, EIB Global intends to support innovative water businesses. Among the initial beneficiaries of this equity support is Rite Water Solutions, an Indian company focused on providing drinking water solutions and improving water quality in rural and urban areas, expected to benefit over 540,000 households. This backing signifies the first fund investment by the Water Sector Fund, a trust fund established in collaboration with the Dutch government and managed by EIB Global, aiming to develop drinking water projects in low- and lower-middle-income countries and promote the UN Sustainable Development Goals.

Collaborative Visionaries: Commitment to Global Water Accessibility

EIB Vice-President Robert de Groot remarked, “This investment showcases our joint commitment to enhancing access to safe, affordable drinking water for all. Innovative financial and technical solutions are needed. The W2AF is an excellent example, funnelling water investments to the regions that need it most and helping build the private water ecosystem in emerging markets in Africa and Asia. I extend my gratitude to the Dutch government for their vital support, making this impactful endeavour possible.”

Incofin Chairman Loïc De Cannière stated, “We thank the EIB and the Dutch Water Sector Fund for joining W2AF, together with our diverse investors from Europe and the United States. W2AF is a pioneering, first-ever equity impact fund for the drinking water sector in the Global South. Incofin aspires to make the impact of this fund a success, and an example for other investors. By doing so, it will pave the way for more water funds, helping millions of people around the world access drinkable water, which is a key Sustainable Development Goal and a fundamental human right.”

Cees Bansema, Ambassador of the Kingdom of the Netherlands to Luxembourg, explained, “Access to safe drinking water is a human right and critical for social and economic development. This investment in W2AF shows how cooperation makes water projects more sustainable and inclusive. It is also a great example of how we can mobilise additional funding from other financiers or investors. It is a flagship operation of the Dutch-funded Water Sector Fund — combining the Netherlands’ continuous commitment to addressing global water challenges, the EIB’s extensive experience investing in water worldwide, and fund manager Incofin’s unique track record in impact investments.”

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gwf-wasser.de, Inhaber: Vulkan-Verlag GmbH (Firmensitz: Deutschland), würde gerne mit externen Diensten personenbezogene Daten verarbeiten. Dies ist für die Nutzung der Website nicht notwendig, ermöglicht aber eine noch engere Interaktion mit Ihnen. Falls gewünscht, treffen Sie bitte eine Auswahl: