With reference to 'WaterCredit', consider the following statements: 1. It puts microfinance tools to work in the water and sanitation sector. 2. It is a global initiative launched under the aegis of the World Health Organization and the World Bank. 3. It aims to enable the poor people to meet their water needs without depending on subsidies. Which of the statements given above are correct?

Answer: C. Statements 1 and 3 are correct; Statement 2 is wrong. WATERCREDIT is a financing initiative pioneered by Water.org (the NGO co-founded by Matt Damon and Gary White) that brings microfinance solutions to the water and sanitation sector for low-income populations. Statement 1 is CORRECT. WaterCredit puts MICROFINANCE TOOLS TO WORK in the WATER AND SANITATION SECTOR. The model partners with local microfinance institutions to extend small loans to households for water connections, taps, toilets, and rainwater harvesting. Loans are repaid in instalments rather than relying on donations or subsidies. Statement 2 is WRONG. WaterCredit was NOT launched by the WHO or World Bank. It was DEVELOPED BY Water.org (an NGO founded by Matt Damon and Gary White) as an NGO-led innovation. While it has partnerships with various development organisations and impact investors, it is not a WHO/World Bank initiative. Statement 3 is CORRECT. WaterCredit's core idea is that poor people CAN AFFORD WATER ACCESS through small repayable loans — independent of charity or government subsidies. The thesis is that there is a 'bottom of pyramid' market for water and sanitation finance, with high repayment rates and dignity through choice rather than dependency on subsidies. Has reached millions of people across India, Indonesia, Philippines etc. Source: Water.org WaterCredit programme materials / WHO-UNICEF Joint Monitoring Programme references.