Family Bank and FundMyWater have announced that all small-scale water providers can now secure funding of up to Ksh.10 million and receive up to 20% of the funding in grant subsidy from Aqua for All based on pre-agreed results, and a technical assistance grant to develop projects.
FundMyWater is an innovative finance matchmaking platform that tackles the financing challenges of small-scale water infrastructure projects in Kenya.
Through the project, FundMyWater and Family Bank will leverage technology to make water infrastructure investments fast, collaborative, secure, and economically viable for financiers, funders, and service providers.
“Our digital platform helps small water service providers to raise blended capital for investment in climate-resilient infrastructure and access to water services through deal sourcing and Matchmaking Services, blended financing for social impact as well as impact management ,”
said an official from FundMyWater.
Deal sourcing and matchmaking…
FundMyWater connects lenders to a pool of potential water infrastructure projects by finding, screening, and profiling project bankability and sustainability metrics for commercial financing.
Through its digital platform, FundMyWater helps lenders secure quality deals efficiently by reducing costs associated with pipeline development such as origination costs, expertise, and turn-around time.
Blended financing for social impact…
FundMyWater’s secure transaction deal room facilitates collaboration between lenders and grants funders to co-develop and finance projects in a unified and standardized way.
They facilitate; preparation and access to standardized project documentation including technical feasibility reports and financial models; collateralization of project cashflows via an end-to-end billing, collection, and payment system; and real-time performance monitoring of projects in the lifecycle of the financing through a dynamic dashboard.
Over and above deal discovery, screening, and due diligence, the FundMyWater platform leverages technology to track and report the direct impact of the water infrastructure projects on the community in real-time to all stakeholders.
FundMyWater, in addition illustrates the value for money to all its partners by identifying and quantifying the positive effects of the financed projects on society.