At just 24 years old, Goldman Sachs banker Hamza Farrukh believes that working for the bank securities division isn’t enough, so he wants to do more, but not for the organization he’s part of.
According to Business Insider, he is the leader of Bondh-E-Shams, a charity organization with the mission to deliver clean water to areas that don’t have access to it. Considering this, the bank awarded Farrukh and his team a grant valuing $150,000, so he can complete the work of the organization.
The audience was impressed by the idea
The grant was awarded as a prize for the Analyst Impact Fund competition. This is an annual contest where teams of junior staff from Goldman Sachs compete for an investment from the bank, into a charity organization. The contest was judged by the bank’s CEO, Lloyd Blankfein, as well as the partnership committee.
“It’s a project I’ve been involved with for around three or four years now, and to see this kind of support internally from the firm, and from very senior leadership is very heartening and encouraging,” Farrukh said in a phone interview.
“When you’re trying to make an impact, to know that your firm backs you in trying to actually be on the ground and change lives, that’s a powerful feeling,” the banker added.
Hamza Farrukh’s project wants to use solar energy in an attempt to power water pumps tapping into aquifers in rural communities. By this, the need for locals to travel long distances to get water for drinking and washing will be significantly reduced.
The project is already being implemented
Currently, the project is working in both Pakistan and Bangladesh, focusing on the Rohingya refugees leaving Myanmar. Still, it won’t stop here, as the ultimate goal is to “come up with a cost-efficient, sustainable, maintenance free solution to the global water crisis.”
Other interesting projects took part in the Goldman Sachs competition, including an NY-based team, pitching a charity using 3D printing technology to build homes in poor areas of Central and South America, as well as a San Francisco-based organization, training victims of human trafficking to become software professionals.