Abu dhabi: The World Bank Group, in collaboration with multilateral development banks, development finance institutions, and key partners, has introduced Water Forward, a global initiative aimed at improving water security for 1 billion people by 2030. This platform seeks to align policy reforms, financing, and partnerships to expand reliable water services and fortify systems against droughts and floods, which are crucial for job creation.
According to Emirates News Agency, water is fundamental to health, food systems, and energy, supporting an estimated 1.7 billion jobs worldwide. However, 4 billion people currently face water scarcity. In numerous countries, progress has been hindered by unclear policies, weak regulations, and financially unsustainable utilities, deterring investment in the sector. Water Forward intends to tackle these issues by aiding developing countries in constructing stronger, more dependable water systems that can enhance productivity, support livelihoods, and attract private investment. The initiative will back reforms to strengthen institutions, improve financial performance, and develop projects ready for investment.
Ajay Banga, President of the World Bank Group, stated, "Water is foundational to how economies function. When water systems work, farmers produce, businesses operate, and cities attract investment. Our task now is to align reform, financing, and partnerships to deliver reliable water services at scale."
Central to the initiative are country-led water compacts, wherein governments outline reform priorities, commit to bolstering institutions, and establish investment pathways for their water sectors. Today, 14 countries declared their national water compact under the Water Forward initiative, with many more in progress.
Multilateral development banks, governments, philanthropies, and private sector actors are coordinating financing and expertise to accelerate investment and project implementation, thereby enhancing reliable access to water. The World Bank Group is dedicated to delivering water security to 400 million people by 2030. With additional commitments from partners, Water Forward aims to reach over 1 billion individuals.
With more than 1.2 billion young people entering the workforce in developing countries over the next decade or so, reliable water systems will be crucial. Robust water infrastructure is essential for fostering healthy economies that can attract private investment and generate jobs.