The African Development Bank’s (AfDB) board of directors has approved a new Water Strategy for 2021-2025 namely Towards a Water-Secure Africa, aiming to increase water security in Africa, and to foster its sustainable, green and inclusive socio-economic growth and development
The five-year strategy was approved on 17 November 2021. It will guide the bank’s implementation of its policy on water, which it approved earlier this year.
“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 Dr. Beth Dunford, the Bank’s vice-president for Agriculture, Human and Social Development.
The water strategy’s four pillars underscore the importance of water and sanitation for socio-economic development; sustainability, resilience and inclusivity; food production and nutrition; and hydropower.
Since 2010, the AfDB has invested an estimated US$6.2bn in water supply and sanitation services. At the end of October 2021, the Bank’s active water sector portfolio stood at US$5.02bn, comprising 104 projects implemented in 40 countries, and five multinational projects.