LAPO Microfinance Bank has received a $200,000 grant from Water.org to expand its water, sanitation, and hygiene (WASH) initiatives across Nigeria. The funding aims to improve access to clean water, sanitation facilities, and hygiene solutions, particularly in underserved communities, fostering healthier and more sustainable living conditions.
Building on the success of its WASH loan adoption program in Kano and Jigawa states, LAPO MfB plans to scale the initiative to all six geopolitical zones of Nigeria. This expansion aligns with the bank’s broader social impact strategy, integrating financial solutions to support community well-being.
“We are thrilled to receive this generous grant from Water.org, which marks a significant milestone in our efforts to provide sustainable water, sanitation, and hygiene solutions to underserved communities across Nigeria,” said Oluremi Akande, Director of Marketing and Corporate Communications at LAPO Microfinance Bank. “This collaboration aligns perfectly with our mission to uplift lives and foster socio-economic development through innovative financial services.”
The WASH program plays a critical role in public health and is an essential component of the United Nations Sustainable Development Goals (SDGs). Poor sanitation and lack of clean water contribute to disease outbreaks, economic hardship, and high mortality rates, particularly in low-income communities. By addressing these issues, LAPO MfB aims to improve living standards and drive long-term socio-economic development.
LAPO MfB’s WaterCredit program will adopt a holistic approach, targeting micro, small, and medium enterprises (MSMEs) as well as individual households. The program will provide accessible financing for water and sanitation projects, ensuring that communities can invest in long-term solutions.
Guided by market research, LAPO MfB will develop tailored financial products to meet the needs of different demographics. These solutions will be delivered through the bank’s extensive branch network and digital platforms, improving accessibility and efficiency. The goal is to finance 12,000 households and 500 MSMEs by December 2027, empowering communities with the resources to build and maintain their own water and sanitation systems.
Water.org, a global nonprofit organization, has been instrumental in providing access to clean water and sanitation for over 73 million people worldwide. Its innovative approach to financial inclusion in the water sector has transformed communities across various developing nations.
The organization’s partnership with LAPO MfB is expected to enhance the effectiveness of the WASH program by leveraging Water.org’s experience in sustainable water solutions. By combining LAPO MfB’s financial expertise with Water.org’s technical knowledge, the initiative aims to create lasting impact, ensuring that more Nigerians have reliable access to clean water and improved sanitation facilities.
Beyond immediate health benefits, improved access to clean water and sanitation can have far-reaching economic implications. Households with safe water sources and proper sanitation spend less on medical treatments and experience higher productivity levels. Additionally, businesses, particularly MSMEs in the agricultural and food sectors, can benefit from better water infrastructure, reducing operational costs and enhancing efficiency.
This initiative also supports women and children, who are disproportionately affected by poor sanitation. In many rural areas, women and girls are responsible for fetching water, often walking long distances daily. By improving water accessibility, the program can reduce this burden, allowing women to engage in economic activities and children to focus on education.
With the WaterCredit program set to roll out across Nigeria, LAPO MfB and Water.org are optimistic about the long-term impact of their collaboration. By focusing on financial solutions for water and sanitation, the initiative not only addresses immediate health concerns but also lays the foundation for economic growth and poverty reduction.
As the program progresses, stakeholders anticipate increased investment in Nigeria’s WASH sector, encouraging further partnerships between financial institutions, development organizations, and government agencies. The LAPO MfB-Water.org partnership represents a significant step towards achieving universal access to clean water and sanitation in Nigeria, aligning with national and global development goals.
