April 15, (THEWILL) — The World Bank Group has launched a major global initiative to improve water security for one billion people by 2030, as part of a coordinated effort to strengthen water systems, support economic productivity and expand reliable access to clean water.
Announced on April 15 in Washington, the new platform known as Water Forward will bring together governments, multilateral development banks, development finance institutions and private sector partners to align policy reforms, financing and technical support across developing economies.
The initiative is designed to address growing global water challenges by helping countries expand reliable water services, while strengthening resilience against climate shocks such as droughts and floods. According to the World Bank, effective water systems are critical for economic growth, public health and job creation.
Water plays a central role in global economic activity, underpinning health systems, agriculture, energy production and an estimated 1.7 billion jobs worldwide. Despite its importance, nearly four billion people experience water scarcity, highlighting the scale of the challenge confronting governments and development institutions.
In many developing economies, weak regulatory frameworks, unclear policy direction and financially unsustainable utilities have slowed progress in the water sector. These structural constraints have also discouraged private investment, leaving critical infrastructure underfunded.
The Water Forward platform seeks to tackle these challenges by helping countries implement reforms that strengthen institutions, improve financial sustainability and prepare investment-ready water projects capable of attracting both public and private capital.
“Water is foundational to how economies function. When water systems work, farmers produce, businesses operate, and cities attract investment”, said Ajay Banga, President of the World Bank Group. “Our task now is to align reform, financing and partnerships to deliver reliable water services at scale.”
At the core of the initiative are country-led water compacts, under which participating governments will outline reform priorities, strengthen institutional frameworks and identify investment pathways for their national water sectors.
So far, 14 countries have announced their national water compacts under the Water Forward initiative, with additional countries expected to join in the coming months as implementation expands.
The programme also brings together a broad coalition of development institutions, which will align financing and expertise to accelerate project development and infrastructure investment to expand reliable access to water.
Through the initiative, the World Bank Group has committed to helping deliver water security to 400 million people by 2030. With additional commitments from partner institutions, the broader Water Forward platform aims to reach more than one billion people globally.
The initiative also reflects growing concern about the relationship between water access and employment. Over the next decade, more than 1.2 billion young people are expected to enter the workforce across developing economies, increasing pressure on governments to create productive jobs and resilient economic systems.
Reliable water infrastructure plays a critical role in that process. Stable water systems support agricultural productivity, sustain industrial activity and enable urban development conditions that help attract private investment and expand employment opportunities.
Several multilateral development banks and development finance institutions have already committed to supporting the programme with financing and technical expertise.
These include the Asian Development Bank, Asian Infrastructure Investment Bank, Council of Europe Development Bank, European Bank for Reconstruction and Development, European Investment Bank, Inter-American Development Bank, Islamic Development Bank, New Development Bank, OPEC Fund for International Development, and the International Fund for Agricultural Development.
Together, these institutions will support national reform programmes, mobilise investment and accelerate the delivery of water infrastructure projects aimed at improving access, strengthening resilience and supporting sustainable economic growth.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
