World Bank Group launches ‘Water Forward’ to combat global water crisis

• Four billion people face water scarcity worldwide
• Initiative aims to improve water security for one billion people by 2030
• Private investment seen as key to reforming weak water systems
• More than two billion lack access to safe drinking water; over three billion do not have proper sanitation

By Shannine Daniel

Four billion people across the globe continue to face water scarcity, the World Bank Group (WBG) warned, highlighting the growing economic risks linked to water insecurity.

Unveiling its new global platform, Water Forward, the WBG noted that around 1.7 billion jobs worldwide depend directly on water, underlining its critical role in sustaining livelihoods and economic productivity.

The initiative aims to improve water security for one billion people by 2030, by supporting developing countries to build more reliable and resilient water systems. 

These efforts are expected to unlock productivity, strengthen food and energy security, and encourage private sector investment.

According to the WBG, Water Forward will focus on aligning policy reforms, financing, and partnerships to expand access to water services while strengthening systems against droughts and floods. 

The platform will also support institutional reforms, improve financial performance, and help develop investment-ready projects.

The initiative was launched in collaboration with major global partners, including the Asian Development Bank, European Bank for Reconstruction and Development, Islamic Development Bank, OPEC Fund for International Development, and the International Fund for Agricultural Development.

A central component of the platform is the introduction of country-led “water compacts”, which outline government reform priorities, commitments to strengthening institutions, and pathways to attract investment into national water sectors. 

Fourteen countries have already announced such compacts, with more expected to follow.

The WBG stressed that improving water access will be particularly important as more than 1.2 billion young people are projected to enter the workforce in developing countries over the next decade. 

Reliable water systems are essential to support job creation and economic stability, the WBG noted.

However, the organisation also stated that progress has been hindered by unclear policies, weak regulatory frameworks, and financially unsustainable utilities, which have deterred investment in many regions.

“Failing water systems limit productivity, weaken food and energy security, undermine public health, and deter private investment,” the WBG said, adding that Water Forward aims to transform water from a source of risk into a driver of growth and resilience.

Currently, more than two billion people lack access to safe drinking water, while over three billion do not have safely managed sanitation.