"WASRAG" stands for Water and Sanitation Rotary Action Group. "PEP" stands for Project Enhancement Process. 
 

Find this expanation on their website here:

"The Water & Sanitation Rotarian Action group was formed in 2007 as a group of Rotarians, recognized by Rotary International, focused on water & sanitation work.

Rotarians are uniquely qualified to deliver sustainable solutions. They understand the culture and values of the local communities to which they belong. They are attuned to political considerations and can pinpoint problems before they become hurdles.

The world is discovering that effective programs take 3 to 5 years to be sustainable – local community engagement and appropriate technologies are keys to success. Solutions need to consider complex realities: geography, geology, climate, local culture for example. Ensuring a project is based on best practices isn’t easy, requiring skills often not readily available to Rotary Clubs.

Wasrag was created to provide the know-how, consistency and credibility essential to success over the long term. This has come together in a program called “Start with Water”."

 

The Project Enhancement Process (PEP) is an initiative by The Rotary Foundation (TRF) to strategically utilize its volunteer and staff resources to sharpen Rotary’s focus, enhance the technical quality of projects, support sound project design, make effective grants, and measure our impact in the areas of focus. The pilot will concentrate on achieving these objectives in the water and sanitation area of focus.

Just before the International Convention in Sydney, Wasrag will hold its annual WORLD WATER SUMMIT on May 30, 2014.