Our innovative and blended finance solutions - Aqua for All

Catalysing investments in water and sanitation

Accelerating access to finance for WASH

Our innovative and blended finance solutions

We use our funds and expertise to broaden the ecosystem of available investments through:

  • Blended finance partnerships
  • Results-based incentives models
  • Financing carbon credits trajectories
  • Promoting impact investments in water and sanitation


Our blended finance partnerships

We deploy our funding as patient, risk-tolerant, flexible and concessionary capital to facilitate and de-risk private investments. Our financial instruments include first and second loss capital, guarantees, technical assistance, results-based funding (pay for success) and design/preparation stage grants.

  • In August 2020, we launched a WASH Loan Facility with Sidian Bank. The facility provides working capital to micro, small and medium water and sanitation enterprises in Kenya.
  • In September 2021, we launched a WASH Financing Programme with the National Bank of Kenya (NBK). It is aimed at micro, small and medium enterprises (MSMEs and SMEs), including vendors, technology providers, and various WASH suppliers.
  • We partnered with Family Bank in July 2023 to increase access to credit for community-based water serving providers in Kenya.
  • In March 2023, we launched the Water Access Acceleration Fund (W2AF). This is the first private equity fund for safe drinking water. Besides Aqua for All, investors include Danone, BNP Paribas, U.S. International Development Finance Corporation (DFC), the Danish development finance institution IFU, Norfund, and the U.S. Agency for International Development. The fund’s first investment in Rite Water will secure safe drinking water to communities living in areas with polluted water sources.
  • In June 2023, we launched a partnership with Oikocredit to support water and sanitation financing provided by financial institutions in Africa and Asia.
  • We partnered with the African Guarantee Fund to increase de-risking opportunities for the water and sanitation sector in Africa.
  • In June 2023, we launched The Challenge Fund with Family Bank, Sidian Bank and private sector service providers,  a pioneering blended finance structure to accelerate access to clean and reliable water supply in peri-urban and rural areas in Kenya.



Funding results-based incentive models for greater impact

We finance results-based incentives models to scale water and sanitation enterprises and make them investable. These incentives support enterprises  improve their profitability while achieving higher impact (gender, environment and social) and offering better services, especially for people on low incomes and living in rural and last-mile areas.

  • In August 2020, Aqua for All and Roots of Impact launched the Social Impact Incentives for Water, Sanitation and Hygiene (SIINC for WASH) programme. After this successful pilot, we continued our partnership by launching the Impact-Linked Fund for WASH (ILF for WASH).

Climate change mitigation through carbon credits finance

Carbon credits certification helps water and sanitation social enterprises generate additional revenue from greenhouse gas (GHG) emissions avoided. Since 2013,  Aqua for All has  financed carbon credits trajectories in Ethiopia and India.


Facilitating impact investors’ involvement

Impact investors’ capital allocation in water and sanitation has grown in the last years [1]. However, it  is still a relatively new and under-invested sector for private capital with little information available on its  risk/return profile.

In 2020, Aqua for All became a member of the European Microfinance Platform (e-MFP) as part of its strategy to proactively promote impact investments in water and sanitation. Since May 2021, Aqua for All leads the e-MPF WASH Action Group (see box).


[1] https://thegiin.org/research/publication/impinv-survey-2020

Our experience with carbon credits finance

The paper ‘Mobilising investments for water and sanitation enterprises through carbon credits’  summarises these experiences and the findings of a study on carbon finance opportunities in partnership with FairClimateFund.

UN 2023 Water Conference

During our sessions, we called for more and appropriate action by mobilising (private) investments and share our joint commitments to achieve SDG 6.

Climate-smart financing

Our new climate change mitigation and adaptation strategy promotes climate resilience through water and sanitation investments.

WASH Action Group

Within the e-MFP, Aqua for All is setting up a WASH (Water, Sanitation and Hygiene) Action Group  to promote investments and sharing learnings among the European impact investor’s community.