With reference to 'WaterCredit', consider the following statements : 1. It puts microfinance tools to work in the water and sanitation sector. 2. It is a global initiative launched under the aegis of the World Health Organization and the World Bank. 3. It aims to enable the poor people to meet their water needs without depending on subsidies. Which of the statements given above are correct?

Statements 1 and 3 are correct because WaterCredit is an initiative by the NGO Water.org that applies microfinance principles to provide small loans for water and sanitation, empowering the poor to fund their own solutions rather than relying on traditional subsidies. Statement 2 is the primary distractor and is incorrect because the initiative was launched by Water.org (founded by Gary White and Matt Damon), not by intergovernmental bodies like the WHO or the World Bank. The core concept being tested is the application of innovative market-based financing mechanisms to address global developmental challenges.