The European Investment Bank has joined Water Forward, a new global coalition bringing together multilateral development banks, governments, private investors and philanthropic partners to address water security.
The EIB’s participation includes a pledge to help deliver water security for 300 million people by 2030, contributing to Water Forward’s goal of reaching one billion people worldwide.
Water Forward was announced at the World Bank Group – IMF Spring Meetings in Washington.
The initiative is described as country-led and partner-supported, and is intended to close financing, policy and institutional gaps affecting access to water, sanitation and climate-resilient water systems.
Water security generally refers to reliable access to adequate quantities of acceptable-quality water, alongside protection from water-related risks.
More than two billion people still lack access to safe drinking water worldwide.
Pledge linked to water, sanitation and resilience
Water Forward’s work is organised around three pillars — “water for people”, “water for food” and “water for the planet” — the EIB said.
EIB President Nadia Calviño said the bank would contribute to providing “safe and clean water for 300 million people by 2030.”
The EIB described itself as the EU’s financial arm and the world’s largest multilateral financier of water projects, adding that it would bring long-term financing and technical expertise to the coalition.
Under Water Forward, the bank said its work could include support for projects such as drinking water and sanitation, irrigation, flood protection and ecosystem restoration.
