Climate change is water change. As described by the IPCC, the greatest risks of global warming relate to water. Water resources are under pressure. Billions of people are lacking proper access to water and sanitation with impacts on health, economy and the environment. The Covid-19 pandemic is a brutal reminder of the need for such basic services.
However, the water and sanitation sector remains under-financed. According to the World Bank, more than US $110 billion would be necessary every year to achieve safe access to water and sanitation, yet only one-third of current needs are being met.
As speakers from AFD, Banobras, CAF, CDG Capital, EIB and the World Bank will tell us, Public Development Banks have played a key role in financing water and sanitation infrastructure in many countries. But financing needs to be scaled up, especially in emerging and developing countries.
At the end of the session AFD, CAF, EIB and the World Bank, in cooperation with Sanitation and Water for All, will call for all Public Development Banks – whether multilateral, bilateral or national – to boost financing for water and sanitation and to foster greater cooperation.