PepsiCo Foundation is the first private sector donor to contribute to the AquaFund.
A direct output of the landmark public-private partnership initiated last month between PepsiCo and IDB, the grant will fund a variety of projects, including but not limited to microcredit loans for safe water and improved sanitation projects in Latin America, reaching approximately 500,000 people in the region by the end of 2015.
The AquaFund agreement was signed by Luis Montoya, president of PepsiCo Latin American Beverages, and Luis Alberto Moreno, president of the IDB, at the International Environment Summit in Guayaquil, Ecuador.
The first PepsiCo Foundation-supported AquaFund project will launch in Peru and others are likely to be implemented in Argentina, Brazil, Colombia, Dominican Republic, El Salvador, Guatemala, Haiti, Honduras and Mexico.
Source: PepsiCo
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