Inditex donates €3.7m to improve water access in - sportstextiles: Lea SportsTextiles

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Inditex donates €3.7m to improve water access in developing areas

08/12/2015
Zara-owner Inditex has allocated €3.7 million to Water.org to improve access to safe water and sanitation in developing areas.

The contribution will facilitate more than 33,000 microloans and will benefit more than 160,000 people in Bangladesh and Cambodia, said a statement published by the Spanish company.

The WaterCredit model is achieved in conjunction with local microfinance institutions, which secure capital for the loans. In turn, this enables philanthropic investments to make a greater and more efficient impact.

A quarter of the overall contribution to Water.org will be sent to the funds reservation for research and development, New Ventures Fund, which the NGO will use to discover new ways to combat the water crisis.

Inditex will serve on the Council of the R&D fund, to analyse the annual developments. 

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