Caterpillar Foundation Awards $8.3 Million to has announced a $8.3 million grant — the largest single funding commitment in its history — from the Caterpillar Foundation to expand its WaterCredit initiative to Indonesia, the Philippines, and Peru.

Using microfinance tools, the WaterCredit initiative makes it possible for a family living in poverty to secure a small loan to pay for construction of a water connection or toilet in their home. The expansion of the program will draw on a diverse network of local partners, including commercial financial institutions, microfinance institutions, and nongovernmental organizations working in the water and sanitation space.

The funding commitment from the foundation, the philanthropic arm of Caterpiller, Inc., builds on an earlier $3 million grant to scale the initiative in India. The funds will enable to accelerate the impact of its efforts in the developing world and will provide nearly five hundred thousand people with access to safe water and sanitation.

Caterpillar Foundation Awards $8.3 Million to

"Having household access to clean, running water not only keeps families healthy and productive, it gives back countless hours to girls and women that they can use to further their education or start a business," said Caterpillar Foundation president Michele Sullivan. "The ancillary benefits of convenient access to clean water are staggering."

Source:“Caterpillar Foundation Expands Partnership With” Press Release 10/17/13.