FMO invests in Dlo Haiti, a new water distribution company. The investment will help build a network of kiosks to provide underserved Haitian communities with access to affordable, safe drinking water while also creating job opportunities. The investment is made together with the International Finance Corporation (IFC), the Leopard Haiti Fund and Miyamoto International.
In Haiti, access to piped water systems is generally very limited, serving only about a third of Haiti’s urban poor and less than a third of its rural poor. The alternatives provided by water delivery companies are often unreliable and expensive. By establishing kiosks where water is purified on site and distributed to nearby communities, Dlo Haiti can provide a cheaper, cleaner water source that is more convenient to consumers. In addition, Dlo Haiti is expected to create, approximately 600 direct and indirect jobs for Haitians who will be employed both at the kiosks and as distributors and delivery agents.
“Dlo Haiti is installing its first 40 water kiosks, which will provide filtered water to more than 145,000 people, mainly in small towns and rapidly-growing peri-urban areas,” said Jim Chu, founder and CEO of Dlo Haiti. “Access to safe drinking water has been one of Haiti’s most critical public health problems. Our vision is to address this need with a market-based solution that is both sustainable and efficient.”
Following an initial two-year pilot phase, Dlo Haiti plans to establish a 300-kiosk Haiti-wide network that could serve more than one million Haitian consumers and create more than 4,000 direct and indirect jobs.
“Untreated drinking water poses a big health risk to all people, but especially the poorest people in Haiti suffer from this. Poor communities are experiencing great difficulties with obtaining proper water services,” said Jurgen Rigterink, CIO of FMO. “DloHaiti helps them by providing access to reliable drinking water.”
About FMO
FMO (the Netherlands Development Finance Company) is the Dutch development bank. FMO supports sustainable private sector growth in developing and emerging markets by investing in ambitious entrepreneurs. FMO believes a strong private sector leads to economic and social development, empowering people to employ their skills and improve their quality of life. FMO focuses on three sectors that have high development impact: financial institutions, energy, and agribusiness, food & water. With an investment portfolio of EUR 6.3 billion, FMO is one of the largest European bilateral private sector development banks. www.fmo.nl
About Dlo Haiti
Dlo Haiti is led by a team of Haitian and Silicon Valley entrepreneur with experience in the water business, including water kiosk operations in Haiti: more information can be found at www.dlohaiti.com. The investor group includes the International Finance Corporation (IFC), the Leopard Haiti Fund, the Netherlands Development Finance Company (FMO), Miyamoto International and its CEO and Founder, Mr Jim Chu. In March 2013, Dlo Haiti was named a finalist and runner-up in Imagine H2O’s annual international competition recognizing the world’s most promising water start-ups.
