Annual report

114
Annual Report 
2022

---

One WASH Fund
One WASH is the IFRC’s operational contri-
bution to the Global Task Force for Cholera 
Control Roadmap focusing on integrated 
WASH and public health activities. It also 
builds community and National Society 
capacities communities so that they are 
better able to respond in the event of a 
waterborne pandemic or epidemics.
The scope of One WASH extends far beyond 
response and community recovery. It also 
addresses many different issues ranging 
from the overall reduction of waterborne 
diseases to increased economic output, to 
climate action, to improved access to educa-
tion and improved nutritional status. ‘’Many 
issues, One WASH’’.
In addition to increased resource mobilization 
taking place at national level, the programme 
is funded in part by the One WASH Fund and 
Sukuk. A 
sukuk
is an Islamic bond structured 
in such a way as to generate returns to 
investors without infringing Islamic law (that 
prohibits
 
riba
or interest and requires asset 
backing). Sukuk represents undivided shares 
in the ownership of tangible assets relating to 
projects or special investment activity.
The Islamic Development Bank (ISDB) and the 
IFRC created the Sukuk impact bond within 
the One WASH Fund with an aim of raising 
USD 100-150 million from new philanthropic 
and private investor capital in addition to 
traditional humanitarian donor financing.
Primarily, the model seeks to blend out-
come-based financing with grant financing 
in a structure that will position participating 
funders and stakeholders ahead of the 
innovative financing curve and suggests a 
new approach to humanitarian development 
organizations resource mobilization.
The IFRC is also building on its existing 
One WASH engagement and fundraising 
strategy particularly with private sector and 
philanthropic donor outreach. An amended 
Memorandum of Understanding was signed 
between the IFRC and IsDB in 2022.