The World Bank Group, in partnership with multilateral development banks, development finance institutions, and other stakeholders, has launched a new global platform called Water Forward aimed at improving water security for one billion people by 2030.
According to the bank, the initiative is designed to align policy reforms, financing, and partnerships to expand reliable water services while strengthening water systems against droughts and floods—factors considered vital for sustainable economic growth and job creation.
In a press statement, the World Bank noted that water plays a critical role in supporting essential sectors across the world.
“Water underpins health, food systems, energy, and an estimated 1.7 billion jobs worldwide; yet four billion people experience water scarcity,” the statement said.
The bank added that in many countries, unclear policies, weak regulatory frameworks, and financially unsustainable utilities have slowed progress in the water sector and discouraged potential investment.
The Water Forward initiative seeks to address these challenges by helping developing nations build stronger and more reliable water systems capable of boosting productivity, supporting livelihoods, and attracting private sector investment.
As part of the programme, participating countries will receive support to implement reforms that strengthen institutions, improve financial performance, and develop investment-ready projects in the water sector.
So far, 14 countries have announced their national water compacts under the initiative, with more expected to join in the coming months.
President of the World Bank Group, Ajay Banga, said multilateral development banks, governments, philanthropies, and private sector actors are working together to align financing and expertise in order to accelerate investment and project implementation.
He noted that the bank remains committed to delivering water security to 400 million people by 2030, adding that with additional commitments from partners, the Water Forward platform is expected to reach more than one billion people worldwide.
