The African Development Bank (AfDB) said that over ten years, it spent around US$ 5.2 billion supporting and enhancing water and sanitation resilience for about 97 million Africans, Entrepreneurng report.
According to a statement posted on the AfDB website, the bank has invested an average of US$ 900 million annually since 2015 to promote water and sanitation.
“It added that to achieve sustainable water, food, and energy security while ensuring green and equitable growth, large investments in integrated water development and management are essential.”
Our $473 million water and sanitation portfolio in 2022 gave approximately 24,000 people in Africa work and an estimated 6.8 million people access to water, according to the statement.
According to the announcement, industrialization, regional integration, enhanced quality of life in Africa, and water security were among the AfDB’s top five strategic priorities.
It stated that the foundation of the AfDB’s water policy was a vision to increase Africa’s water security and transform water resources to support inclusive, sustainable, and green socio-economic growth.
The declaration contends that access to potable water, sanitary facilities, and hygiene services is a critical resource with direct implications for Africa’s economic potential.
Water scarcity affects one in three Africans. It stated that 411 million people in Africa lack access to basic drinking water services, according to the 2022 WHO/UNICEF JMP report.
According to the statement, 839 million people lack access to basic hygiene services and 779 million lack basic sanitation facilities.
Also, droughts and water scarcity brought on by climate change will affect around 230 million people in Africa.
“Yet by 2025, as many as 460 million Africans would reside in regions where water demand frequently exceeds supply.”
The security of food and energy is also impacted by this as the continent’s population rises. Access to water is still an issue, and water use efficiency is now a critical one,” it stated.
The statement claims that World Water Day 2023’s subject of “Accelerating transformation” is a call to action to take even more action to address the water and sanitation challenges.
Governments, regional organizations, and international development partners must act swiftly and together, it stated.
The intricate interactions between the supply and demand for energy, water, and food ecosystems must also be taken into account.
Using the effects of climate change to address the variety of water needs and uses, create novel concepts, and optimize financial resources in the water industry.
To advance the accomplishment of SDG 6 targets, it was said that AfDB would continue to collaborate with and support African nations until the year 2030 and beyond.
By financing, sector reforms and governance, knowledge development, partnerships and private sector engagement, environmental and social responsibility, and reducing the effects of climate change and many others will be achieved.
Source: The GuardianÂ
