IFC, Global Innovation Fund, launch Water Innovation Platform
The International Finance Corporation (IFC), a member of the World Bank Group, has announced a partnership with the London-based Global Innovation Fund, Isle Utilities, and the African Water Association to originate an Innovation Platform for Water in Africa.
A statement issued by the World Bank and copied to the Ghana News Agency on Wednesday said the facility was aimed at introducing tested, new technologies into the African water sector, and work with local water utilities to implement these solutions.
It said the IFC and GIF were supporting the first Water Innovation Platform at a workshop in Accra, Ghana, on July 20.
It noted that the workshop, being run by Isle Utilities in partnership with the African Water Association, would bring together representatives from regional water utilities, Rockefeller’s 100 Resilient Cities, IFC, and GIF.
George Butler, Water Specialist for IFC said “IFC is committed to finding solutions to difficult problems in emerging markets. In the water sector, our strategy for the Innovation Platform is to support Municipal and private sector organisations to invest in new, proven technologies to implement a step change in efficiency.
Through this initiative, IFC brings together other key actors to collaborate and bring forward innovations that are practical in the Africa water sector.”
The statement said the new models and applications of digital know-how, mobile payments, the internet of things and telecommunications are changing the way development challenges can be solved.
It said the workshop, the first in a series, would showcase new technologies and how they can make a difference to the water sector.
“According to UN data, more than 600 million people globally are still without improved drinking water sources, while around 1.8 billion people use a source of water that is contaminated. Our partnership with IFC, Isle Utilities, and the African Water Association will introduce an innovative market link between water utilities, technology providers, and regulators, with the potential to solve common delivery challenges and transform the lives of millions of people living in poverty across sub-Saharan Africa,” said Alix Peterson Zwane, Chief Executive, GIF.
The statement said the next Africa Water Innovation Platform meeting would be held in early 2018.
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets.
Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world.
In FY16, we delivered a record $19 billion in long-term financing for developing countries, leveraging the power of the private sector to help end poverty and boost shared prosperity.
The Global Innovation Fund (GIF) is a non-profit innovation fund that invests in the piloting, rigorous testing, and scaling of innovations targeted at improving the lives of the poorest people in developing countries.
GIF aims at supporting a portfolio of innovations that collectively open up opportunities and improve lives for millions of people across the developing world.
Source: GNA