Mrs Juliet Odigie, the Acting Managing Director of FAST MfB, announced this in a statement in Abuja on Monday that the new product was developed in collaboration with global water access nonprofit, Water.org.
Odigie explained that FastWash would provide affordable financing for households, small and medium-sized enterprises (SMEs), and communities interested in water supply and sanitation infrastructure projects.
She said the goal of the initiative was to improve people’s lives by enabling access to vital water and hygiene services, helping communities live healthier and more productive lives.
According to Odigie, the launch reflects FAST MfB’s belief that financial empowerment should align with social impact to foster real, measurable change in people’s daily lives.
Odigie emphasised that access to clean water, sanitation, and hygiene was not only a basic human need, but also a right, and essential to sustainable development in any society.
She added that the new financial product aimed to eliminate financial barriers preventing many Nigerians from accessing clean water, safe toilets, and essential hygiene solutions in their homes and businesses.
“With FastWash, citizens can obtain low-interest loans for water and sanitation facilities, improving health, productivity, and living conditions while supporting community development through better hygiene practices,” she stated.
Odigie described the product as “an investment in dignity, health, and hope,” noting that financial tools must serve real needs and promote human welfare beyond traditional banking goals.
She noted that the collaboration highlighted FAST MfB’s values and demonstrated the power of strategic partnerships in delivering meaningful social and economic change, especially in places like Benin City.
Odigie commended NAMB, FAST MfB’s internal team, and all stakeholders whose efforts and dedication made the launch and rollout of the FastWash financial product possible.
Mr Gilbert Okpono, Senior Partnership Account Manager at Water.org, said the product was a result of rigorous research, long-term planning, and a shared vision to solve pressing hygiene challenges.
He explained that the initiative provided innovative financing for the Water, Sanitation, and Hygiene (WASH) sector in Edo State, aiming to reduce disease and promote long-term community development.
Okpono added that FastWash was designed to meet essential needs while transforming lives, noting that access to clean water and sanitation remained out of reach for millions of Nigerians.
“Clean water and hygiene shouldn’t be a luxury. This product is more than finance, it’s a commitment to health, dignity, and progress for individuals and communities,” Okpono emphasised.
Mr Eddy Orok, Executive Secretary of NAMB, lauded FAST MfB for aligning the FastWash product with the United Nations Sustainable Development Goal (SDG) 6, clean water and sanitation for all.
He assured the public that similar products would soon be introduced by other microfinance institutions as part of efforts to broaden financial access and support national development objectives.
“We are proud of our collaboration with Water.org and FAST MfB,” Orok said, adding that the success of FastWash reflects what can be achieved through partnerships focused on public good. (NAN)(www.nannews.ng)
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Edited by Abiemwense Moru