The World Bank has closed ranks with multilateral development banks, development finance institutions, and strategic partners to roll out an initiative to improve water security for 1 billion people globally by 2030.
Called “Water Forward,” the enterprise is out to leverage harmonisation of policy reforms, financing and collaborations to deliver dependable water services and support systems as a buffer against droughts and floods worldwide, the Washington-based organisation said in a Wednesday statement.
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One in every four people worldwide lacks access to safe drinking water, according to a report launched by the World Health Organisation and the United Nations Children’s Fund during the World Water Week 2025 last August.
In Africa’s most populous country, Nigeria, only 67 per cent of the population has access to basic drinking-water services, while only 32 per cent have an improved water source on their premises. Many have to travel an average of seventeen minutes to find water, Nigeria Health Watch said last June.
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Extreme weather, volatility in rainfall patterns, worsening drought conditions in the northern region, acute flooding in southern and riverine communities, and the pressure of urbanisation and pollution from waste dumping and industrial discharge have been noted as major factors fuelling the crisis.
“In many countries, unclear policies, weak regulations, and financially unsustainable utilities have slowed progress and deterred investment in the sector,” the World Bank said in the statement.
“Water Forward aims to address these challenges by helping developing countries build stronger, more reliable water systems that can unlock productivity, support livelihoods, and enable private investment. The initiative will support reforms to strengthen institutions, improve financial performance, and develop investment-ready projects,” it added.
The multilateral lender plans to drive the initiative through country-led water compacts, enabling governments to shape reform priorities, strengthen institutions, and establish investment links for their water industries.
In all, fourteen countries have announced their water compact under the Water Compact initiative.
The World Bank expects over 1.2 billion young people to join the labour force in developing countries over the next 10 to 15 years, anticipating that this will further pressure the availability of reliable water supplies.
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Asian Development Bank, Asian Infrastructure Investment Bank, Council of Europe Development Bank, European Bank for Reconstruction and Development and European Investment Bank are among the DFIs and multilateral development banks that have committed to specific beneficiary targets for 2030.
Others are the Inter-American Development Bank, the Islamic Development Bank, the New Development Bank, the OPEC Fund for International Development and the International Fund for Agricultural Development.
“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,” World Bank Group President Ajay Banga said.
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