Nabsamruddhi’s first international representation – participation in Bangladesh Water Credit Forum, Dhaka on 18 and 19 December 2023

NABSAMRUDDHI participated in the Water Credit Forum, Bangladesh, a distinguished event organised by Water.Org and MSC (Microsave Consulting) on 18 and 19 December 2023 at Dhaka.

Water.org, in collaboration with MSC, seeks to unite capital providers and the Water, Sanitation, and Hygiene (WASH) sector through this forum. By fostering understanding and dialogue, the objective is to enhance the flow of funding into critical WASH projects, ultimately benefiting communities in need of improved water, sanitation, and hygiene services.

Valuable insights on the climate smart WASH financing activities of that country were generated from the deliberations for the core team of Nabsamruddhi who attended the event virtually, some of which can be replicated in India by client partners in the segment, while Nabsamruddhi’s experience in WASH financing were shared with the forum.

Smt. Bonani Roychoudhury, MD, Nabsamruddhi, in her keynote address on 18 December 2023, eloquently articulated the challenges and opportunities surrounding WASH financing in India and the critical role played by MFIs in the segment. She astutely emphasized the necessity for financial institutions to rigorously monitor end-use to mitigate the risks associated with ‘WASH washing’. Furthermore, she shed light on the intricate relationship between climate change and WASH and emphasised the need to look at WASH financing through the ‘climate lens’ while recognising the gender equity aspect in such financing.

During her speech on 19 December 2023, she highlighted the initiatives and achievements of Nabsamruddhi in WASH financing. Nabsamruddhi had identified WASH as once of its focus sectors during FY21 and this has emerged as its champion segment, whereby 25 entities including MFIs, NBFCs and HFCs across the risk rating spectrum have been supported through term loans, blended finance and structured products for WASH to the tune of INR 257 Crore covering ~60k end borrowers, most of whom are women. Adopting a forward thinking stance, Nabsamruddhi launched the Climate Ready WASH Funding (CRWF) programme on pilot basis during the current FY, targeting climate-vulnerable districts based on insights from CEEW report. This transformative initiative is being taken forward through diversified financial products, supported by Special Concessionary Refinance from NABARD and technical collaboration with Water.org and other partners.

The event was attended by prominent thought leaders and practitioners, bankers and MFIs of Bangladesh including Dr. Anwar Zahid, Director, Bangladesh Water Development Board (BWDB), Md. Fahsiulah, EVC, Microcredit Regulatory Authority, Md. Ashiqur Rahman, ED, Bangladesh Bank, Md. Fazlul Kader, Additional Managing Director, PKSF, Ms. Farmina Hossain, Director of Operations, BURO Bangladesh, Mr. Shofiqul Alam, WASH specialist, UNICEF and Mr. Sayef Tanzeem Qayyum, Operations Officer, IFC, among others. Their participation generated valuable insights into Water, Sanitation, and Hygiene (WASH) challenges in Bangladesh. Discussions revolved around pertinent solutions aimed at addressing these challenges and ensuring the safe management of water resources within the country. This collaborative effort facilitated the exploration of strategies to tackle WASH financing issues.