• Thursday, April 25, 2024
businessday logo

BusinessDay

AfDB spends $5.2 billion on Africa’s water and sanitation in 10 years

AfDB commits $5m to fight terrorism financing in West Africa

The African Development Bank (AfDB) has invested around $5.2 billion in supporting and building water and sanitation resilience for nearly 97 million Africans.

According to a statement by the bank, it has contributed an average of $900 million per year in water and sanitation support since 2015.

“Massive investments in integrated water development and management are central to achieving sustainable water, food, and energy security while ensuring green and inclusive growth.

“In 2022, our water and sanitation portfolio of $473 million provided water access to an estimated 6.8 million people and jobs to over 24,000 people in Africa,” the statement read.

According to the statement, water security underpins food and energy security, industrialisation, regional integration, and enhanced African quality of life.

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 socioeconomic 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. According to the AFDB, water scarcity affects one in three Africans.

It said that 411 million people in Africa lack access to basic drinking water services, according to the 2022 WHO/UNICEF Joint Monitoring Panel report.

According to the statement, 839 million people lack access to basic hygiene services, and 779 million lack basic sanitation facilities.

Read also:NBC reaffirms commitment to water sustainability goal

It said climate change causes water shortages and droughts, resulting in anticipated water scarcity for about 230 million Africans.

“And as many as 460 million Africans will live in areas where water demand periodically exceeds the available supply by 2025.”

“This also impacts food and energy security as the continent’s population grows.” “Water access remains a matter of concern, and efficiency in water use is now a crucial issue,” it said.

The subject of World Water Day 2023, “Accelerating Change,” according to the statement, is a wake-up call to do even more to alleviate water and sanitation challenges.

“We need collective and urgent action by governments, regional associations, and global development partners.”

“We must also consider the complex interplay between water and energy supply and demand, food ecosystems,” it read. “And the impacts of climate change to address the diverse needs and use of water, develop innovative ideas, and optimise finance in the water sector.”

According to the statement, the AfDB will continue to engage with and support African countries in order to meet the six Sustainable Development Goal targets by 2030 and beyond.