received a $250,000 grant from the Bank of America to support its newest initiative, bringing safe water to dry, coastal communities in developing areas.
GivePower’s mission is to install solar energy technologies that enable essential services critical for community health and vitality. Most recently, GivePower constructed a solar-powered desalination system that is to . With support from Bank of America, the foundation is now underway with development of two additional desalination systems in Colombia and Haiti.
To date, Bank of America has provided GivePower Foundation $1.75 million in grants, supporting solar technology in over 1,800 schools and 22 community microgrids since 2015. Its capital deployment is helping to find innovative solutions and scale the impact of sustainability solutions in the developing world.
Bank of America is making the grant as part of its , which aims to lower risk barriers and mobilize capital to high-impact projects that prioritize issues such as energy access, affordable housing, water and sanitation, and climate resilience, in line with the aim of the United Nations Sustainable Development Goals (SDGs). The CFI is comprised of 12 partner institutions that have completed 30 deals in both developed and emerging markets and have helped to mobilize more than $11 billion in investments.
“Access to clean, reliable water is not just an aim of the SDGs – it is fundamental to our basic life needs and is out of reach for far too many across the globe,” said Alex Liftman, global environmental executive at Bank of America. “We are pleased to continue our partnership with GivePower to expand access to clean water and open up greater social and economic opportunities in these villages.”
GivePower’s solar-powered desalination systems produce about 70,000 liters of potable water daily, enough to provide drinking water for up to 35,000 people. The systems are designed to produce high-quality water over a long period of time, enabling a sustainable source of water that families can depend on.
“The partnership with Bank of America has been instrumental in propelling these life-changing initiatives forward,” said Hayes Barnard, president and founder, GivePower Foundation. “It’s an incredibly exciting time for us as a foundation, as we continue to innovate and produce sustainable ways to deliver light, food and clean drinking water to people who are in critical need. We are grateful to the Bank of America Charitable Foundation for helping to make this possible.”
In 2019, GivePower aims to launch four additional 70,000 liters-per-day desalination units, power a minimum of 25 more schools, and install at least seven solar microgrids in remote villages around the world.
To learn more about Bank of America's environmental sustainability commitments and its $125 billion environmental business initiative, please visit . To learn how you can partner with the GivePower Foundation to improve the lives of people in impoverished communities, please visit .
The GivePower Foundation is a 501(c)(3) nonprofit organization committed to extending the environmental and social benefits of clean, renewable energy across the world. GivePower uses solar energy and storage technologies to deliver the most essential community services to the developing world. GivePower has helped power some of the economically poorest countries, including communities across more than a dozen countries in Africa, Asia, and Latin America. Visit GivePower at www.givepower.org and follow the organization on Facebook, Instagram, and Twitter.
At Bank of America, we’re guided by a common purpose to help make financial lives better, through the power of every connection. We’re delivering on this through responsible growth with a focus on our environmental, social and governance (ESG) leadership. ESG is embedded across our eight lines of business and reflects how we help fuel the global economy, build trust and credibility, and represent a company that people want to work for, invest in and do business with. It’s demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our clients, and the impact we make around the world in helping local economies thrive. An important part of this work is forming strong partnerships with nonprofits and advocacy groups, such as community, consumer and environmental organizations, to bring together our collective networks and expertise to achieve greater impact. Connect with us on Twitter (@BofA_News).
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Reporters may contact:
Kelly Sapp, Bank of America
Kalista Barter, GivePower