Varthana Secures $ 6 Million from WaterEquity
Varthana Finance, a prominent NBFC in India's affordable education industry, has obtained a $ 6 million loan from WaterEquity, a worldwide asset manager dedicated solely to water and sanitation. The funding seeks to increase access to safe water and sanitation in neglected school communities throughout India.
The funds will be used solely for school enhancement loans that include water, sanitation, and hygiene (WASH) facilities, allowing affordable private schools to offer clean drinking water, better sanitation options, and encourage healthy hygiene habits among students.
This investment is consistent with Varthana’s dedication to producing sustainable results through financing that prioritizes education.
Varthana has extensive geographical coverage throughout peri-urban and rural India, enabling it to enhance access to water and sanitation facilities in cost-effective private schools. WaterEquity offers sector knowledge gained from past investments in microfinance institutions, housing finance companies, and small and medium-sized enterprises.
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This deal brings school financing to WaterEquity's portfolio in India, enhancing its commitment to long-term impact.
Steve Hardgrave, Wholetime Director and Executive Vice Chairman, Varthana says, “Access to safe water and sanitation is fundamental to creating a healthy and conducive learning environment. By integrating WASH improvements into our school financing model, we are ensuring that quality education goes hand in hand with the well-being of students. Our collaboration with WaterEquity helps us deepen our commitment to sustainable school ecosystems, especially in communities that need it most.”
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Amit Agarwal, Head of South and Central Asia for Financial Institutions, WaterEquity says, “Children spend a significant portion of their day at school, and access to safe, dignified WASH facilities is essential to improving attendance and learning outcomes - particularly for girls. Varthana’s extensive network of affordable private schools presents a strong platform to scale these improvements. This transaction marks WaterEquity’s first global investment in the school finance sector adding WASH lending for schools as a new product in our debt portfolio.”
“That portfolio currently generates water and sanitation impact in 23 countries through households and enterprises loan products from Microfinance Institutions, Banks, Housing Finance Companies and other non-Banking Financial Institutions. We are pleased to support Varthana in expanding sustainable school infrastructure and improving access to water and sanitation in underserved communities,” adds Amit.
This initiative is expected to contribute to improved public health outcomes, increased school attendance, and India’s progress toward the United Nations Sustainable Development Goal 6, ensuring availability and sustainable management of water and sanitation for all.
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By combining WaterEquity’s expertise in impact investing and Varthana’s on-ground reach and financial acumen, this collaboration seeks to help bridge the gap that often prevents vulnerable communities from accessing basic water and sanitation facilities.