The Joint MDB Water Security Financing Report 2024 represents a significant step by ten Multilateral Development Banks (MDBs) towards enhancing global water security. The report, based on commitments from COP28 and the One Water Summit, establishes a baseline for tracking investments and collaboration in the water sector. In 2024, MDBs approved USD 19.6 billion for water-related financing, with USD 14.4 billion directed towards low- and middle-income countries. This inaugural report underscores the MDBs' collective ambition to improve access to safe water and sanitation, promote sustainable water resource management, and support climate-resilient irrigation systems.
The report emphasizes the urgent need for increased investment and reform in the water sector. Despite rising demand and climate pressures, many countries face significant financing gaps—particularly in Sub-Saharan Africa and fragile contexts—where spending must rise substantially to achieve Sustainable Development Goals. The MDBs are addressing this with a combination of sovereign and non-sovereign financing, technical assistance, and innovative instruments to attract private capital. They also back policy and institutional reforms to enhance service delivery, financial sustainability, and governance in the sector.
Collaboration is central to this initiative. The report highlights joint projects 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 illustrate how MDBs align strategies, co-finance projects, and share knowledge. Future editions will track progress, deepen analysis, and highlight the impact of these investments on people’s lives and the planet.
This publication is a joint effort of several 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.