World Water Day: AfDB To Invest $6.4b In Water Sector

Posted by Eric Ojo Latest Headlines, News Across Nigeria Thursday, March 23rd, 2023

(AFRICAN EXAMINER) – African Development Bank (AfDB) has announced its plan to invest $6.4 billion in the water sector, over the next five years.

This was disclosed in a statement to herald this year’s World Water Day, which was made available to the media.

This is coming as the AfDB joined leading global stakeholders in calling for universal water security for Africans during the UN 2023 Water Conference in New York.

The three-day conference will assess progress and evaluate additional steps to achieve UN Sustainable Development Goal 6 — to ensure universal access to safe drinking water, sanitation and hygiene by 2030.

Achieving SDG-6 in Africa is seen as a significant challenge; the continent has made less progress than expected in meeting water and sanitation targets.

Notably, the AfDB demonstrably prioritizes securing water security for socio-economic transformation through water, food, and energy ecosystems. The Bank has invested approximately $5.2 billion on water supply and sanitation projects over the past decade.

As a result, 44 million people have gained access to improved water supply and sanitation services. Similarly, this new plan is projected to benefit an additional 54 million Africans.

However, Africa’s population growth rate means that more investment is needed to meet demand for infrastructure and services. African countries invest an average of 0.5 percent of gross domestic product in the water sector.

AfDB’s Vice President for Agriculture, Human and Social Development, Dr. Beth Dunford said the Bank aims to increase water security for Africa by fostering equitable, sustainable use, and improved management of water resources for poverty alleviation, socio-economic development, regional cooperation and the environment.

“On World Water Day, the time is right to bring Africa’s voice and African solutions to the world’s highest-level United Nations gathering on water”, she said.

Dr. Dunford is leading a bank delegation to the conference that includes Osward Chanda, Director for Water Development and Sanitation, and Mtchera Johannes Chirwa, Coordinator of the African Water Facility.

The facility, which is hosted by the AfDB, provides grants and technical assistance to support innovative water projects throughout Africa.

Members of the delegation will also participate in plenary sessions, panel discussions, side events and other conference activities.

She is expected to make a statement on water, sanitation and hygiene services in Africa during a roundtable session co-hosted by King Willem-Alexander of the Netherlands and other government leaders.

The Bank’s representatives will also hold high-level talks with governments, heads of business and development partners to explore ways to channel greater investment into water and sanitation infrastructure, as well as to discuss necessary policy reforms.