The Joint MDB Water Security Financing Report 2024 highlights a landmark effort by ten Multilateral Development Banks (MDBs) to strengthen global water security. Building on pledges made at COP28 and the One Water Summit, the report establishes a baseline for tracking investments and collaboration in the water sector. In 2024 alone, MDBs approved USD 19.6 billion in water-related financing, with USD 14.4 billion directed to low- and middle-income countries. This first-of-its-kind report demonstrates the MDBs’ shared commitment to expanding access to safe water and sanitation, promoting sustainable water management, and supporting climate-resilient irrigation systems.
The report underscores the urgent need for greater investment and sector reforms. Despite rising demand and climate pressures, many countries—particularly in Sub-Saharan Africa and fragile contexts—face critical financing gaps that must be addressed to achieve the Sustainable Development Goals (SDGs). MDBs are tackling these challenges through a combination of sovereign and non-sovereign financing, technical assistance, and innovative instruments to attract private capital. They are also driving policy and institutional reforms to strengthen service delivery, financial sustainability, and governance.
Collaboration is central to these initiatives. The report highlights joint projects from urban sanitation in Egypt and flood management in the Philippines to climate-resilient infrastructure in Barbados and irrigation programs in Cambodia. These efforts showcase how MDBs are aligning strategies, co-financing projects, and sharing knowledge to maximize impact. Future editions of the report will continue to monitor progress, provide deeper analysis, and spotlight how these investments are improving lives and protecting the planet.
