Developing economies in Europe and Central Asia are urged to prioritize water security investments to address climate change, dwindling resources, and rising demand. A World Bank report titled "A Blueprint for Resilience: Charting the Course for Water Security in Europe and Central Asia" highlights these challenges as crucial for sustainable economic growth.
The report warns that without action, surface water availability could decline by half by 2050, while demand is expected to rise by up to 51% due to socioeconomic development and industrial needs. Climate change poses significant risks, particularly for Central Asia, one of the most vulnerable regions to future water stress.
"Water security is a prerequisite for development in Europe and Central Asia," stated Sameh Wahba, Regional Director for Sustainable Development at the World Bank's Europe and Central Asia region. He emphasized the need for strategic investments to ensure adequate water quantity and quality while mitigating related risks.
Climate change may increase extreme weather events' frequency, impacting water availability. The region faces financial losses from flooding valued at $64 billion or 1.7% of GDP, with South Caucasus being most economically exposed.
Aging infrastructure leads to a 44% average water loss in Europe and Central Asia. Less than two-thirds of wastewater is collected, with under half treated. Investments are needed to boost water availability for consumers, industry, and agriculture. Improving supply system efficiency is vital amid rising drought risks due to climate change.
Achieving water security in Europe and Central Asia by 2030 will cost an estimated $77 billion annually or 0.6% of regional GDP. Central Asia faces a higher financial challenge at 2.2% of its GDP; South Caucasus requires 1.3%, while the Danube region needs 0.3%.
The report suggests four priority actions:
- Improve services through irrigation investments, better water supply, and sanitation coverage.
- Enhance management by strengthening institutions, developing strategies, creating financing mechanisms, and modernizing information systems.
- Mitigate risks with investments in efficiency, storage capacity, and flood protection.
- Promote transboundary cooperation.
The World Bank supports various countries in improving their water security through projects like expanding access in Kyrgyz Republic, Uzbekistan, Tajikistan; enhancing irrigation in Georgia; and improving flood protection in Western Balkans.