Description
The Joint MDB Water Security Financing Report 2024 marks a milestone in collective action by ten Multilateral Development Banks (MDBs) to strengthen global water security. Building on commitments made at COP28 and the One Water Summit, the report sets a baseline for tracking investments and collaboration across the water sector. In 2024 alone, MDBs approved USD 19.6 billion in water-related financing, with 14.4 billion focused on low- and middle-income countries. This first-of-its-kind report reflects the MDBs’ shared ambition to improve access to safe water and sanitation, promote sustainable water resource management, and scale up support for climate-resilient irrigation systems.
The report highlights the urgent need for increased investment and reform in the water sector. Despite growing demand and climate pressures, many countries face significant financing gaps—particularly in Sub-Saharan Africa and fragile contexts—where spending must increase dramatically to meet Sustainable Development Goals. The MDBs are responding with a mix of sovereign and non-sovereign financing, technical assistance, and innovative instruments to crowd in private capital. They are also supporting policy and institutional reforms to improve service delivery, financial sustainability, and governance in the sector.
Collaboration is at the heart of this effort. The report showcases joint initiatives across regions—from urban sanitation in Egypt and flood management in the Philippines to climate-resilient infrastructure in Barbados and irrigation in Cambodia. These examples demonstrate how MDBs are working together to align strategies, co-finance projects, and share knowledge. Future editions of the report will track progress, deepen analysis, and spotlight the impact of these investments on people’s lives and the planet.
This is a joint publication of the following Multilateral Development Banks:
African Development Bank Group
Asian Development Bank
Asian Infrastructure Investment Bank
Council of Europe Development Bank
European Bank for Reconstruction and Development
European Investment Bank
Inter-American Development Bank
Islamic Development Bank
New Development Bank
World Bank Group
