Phnom Penh, May 05, 2020 – The Pioneer Facility, an impact fund managed by Nexus for Development, signed a new financing agreement with TapEffect Co., a water utility that builds and operates distributed piped water systems in Cambodia
The Pioneer Facility loan of USD 220,000 is to assist TapEffect in constructing and operating a new piped water station and pipeline in Banteay Meanchey province in rural Cambodia. This loan will support the project’s capex and working capital needs linked to milestones and other financial resources including DFAT’s Investment in Infrastructure Fund and World Hope Social Ventures.
TapEffect is increasing access to affordable clean and drinkable tap water for households in under-served towns and rural areas of Cambodia. TapEffect ensures that piped water networks are designed, built and operated sustainably, and is committed to implementing best practice in bringing safe water to their communities.
785 million people in the world still lack basic drinking water services and water stress affects more than 2 billion people, with this figure projected to increase. Hence, ensuring availability and sustainable management of water and sanitation for all by 2030, as defined by SDG6, requires investing in adequate infrastructure.
With this project, TapEffect is set to connect the communities of two communes (Kouk Ballangk and Sambour), creating 4 full-time jobs on site.