The African Development Bank (AfDB) has approved a new five-year strategy to increase water security and foster sustainable, green and inclusive growth and development in Africa.
The new Water Strategy for 2021 to 2025 ‘Towards a Water-Secure Africa’, approved on November 17, guides the bank’s implementation of its Policy on Water, which was approved earlier this year, helping it expand its role as the continent’s partner, while promoting integrated development and management of the water sector.
“This is a significant milestone for the bank in terms of seeing water development and sanitation as key components toward improving the quality of life for the people of Africa,” said AfDB agriculture, human and social development VP Dr Beth Dunford.
The water strategy’s four pillars underscore the importance of water and sanitation for socioeconomic development; sustainability, resilience, and inclusivity; food production and nutrition; and hydropower.
It also aligns with AfDB’s ‘High 5s’, and contributes also to the achievement of the Sustainable Development Goals (SDGs) and the African Union’s Agenda 2063.
“Water is a key enabler for many of the United Nations SDGs and the bank considers water to be essential for life, health, dignity, empowerment, environmental sustainability, peace and prosperity,” added AfDB water development and sanitation director Osward Chanda.
More than 100 bank stakeholders provided inputs to develop the strategy.
Since 2010, AfDB has invested an estimated $6.2-billion in water supply and sanitation services.
At the end of October 2021, the bank’s active water sector portfolio stood at $5.02-billion, comprising of 104 projects implemented in 40 countries, and five multinational projects.