Solution:Water Credit is an initiative of Water.org that puts microfinance tools to work in the water and sanitation (watsan) sector. It is not launched under the aegis of the WHO and the World Bank.Water.org is an American nonprofit developmental aid organization resulting from the merger between H2O Africa Foundation, co-founded by Matt Damon, and Water Partners, co-founded by Gary White. Its goal is to provide aid to developing countries in Asia, Africa and Latin America that do not have access to safe drinking water and sanitation.
Water Credit is the first comprehensive program of its kind that connects the microfinance and watsan communities to scale up access to credit and capital for individual-and house- hold-based watsan needs and does so with multiple models across multiple countries.
Water Credit focuses on individual- and household-level microloans that are typically provided through MFI self-help group models and target a price range appropriate for clients living at the base of the economic pyramid.
Through Water Credit, Water.org aims to channel and redeploy financial resources more efficiently, enabling increasing numbers of people to meet their water and sanitation needs through demand-driven, market-based services and reducing the need for never-ending subsidy.
Hence , statements 1 and 3 are correct while statement 2 is incorrect.