MDBs Commit $19.6B to Boost Global Water Security in Landmark 2024 Report

Ten leading multilateral development banks (MDBs) have collectively committed $19.6 billion (€17 billion) in global investments for water security projects in 2024, marking a historic milestone in multilateral cooperation for sustainable water infrastructure. The announcement came with the launch of the inaugural Joint Annual MDB Water Security Financing Report, presented during the Fourth International Conference on Financing for Development (FfD4) in Seville, Spain.

The investments span a broad range of water-related initiatives, with nearly three-quarters allocated to low-, lower-middle-, and upper-middle-income countries. The effort aims to bolster access to safe water and sanitation, protect communities from climate-driven water risks, and support sustainable water management systems that can power development and resilience.

A New Era in Joint MDB Water Financing

The report is the first collective output of the MDB Water Sector Coordination Group, which comprises:

• African Development Bank (AfDB)

• Asian Development Bank (ADB)

• Asian Infrastructure Investment Bank (AIIB)

• Council of Europe Development Bank (CEB)

• European Bank for Reconstruction and Development (EBRD)

• European Investment Bank (EIB)

• Inter-American Development Bank (IDB)

• Islamic Development Bank (IsDB)

• New Development Bank (NDB)

• World Bank Group

These ten MDBs had jointly pledged at the One Water Summit in Riyadh in December 2024 to scale up investments and technical cooperation in the water sector from 2025 through 2030. The Seville report marks the first year of coordinated reporting, providing a baseline to track progress and accountability in this crucial area.

“Creating sustainable water systems worldwide requires financing, but it also demands partnerships that bring together investment, technical assistance, and knowledge,” said EIB Vice-President Ambroise Fayolle. “The first Water Security Financing Report reflects our collective responsibility – and our ambition to achieve more, together.”

The European Investment Bank Leads with Bold Commitments

Among the MDBs, the European Investment Bank (EIB) emerged as the top contributor, accounting for more than a quarter of the total MDB water financing in 2024. The EIB’s leadership in the sector aligns with the upcoming Water Resilience Programme, which aims to boost the Bank’s water-related lending by 50% to reach €15 billion between 2025 and 2027. This initiative could unlock up to €40 billion in total global water investments over the same period.

The Water Resilience Programme will prioritize:

• Urban water security

• Flood protection

• Water reuse and efficiency

• Climate-resilient infrastructure

• Inclusive and equitable water access

Collaborative Projects Around the Globe

The MDBs' shared vision has already materialized in joint investment projects across continents, including:

Benin

In Cotonou, the EIB is partnering with the African Development Bank, Islamic Development Bank, World Bank Group, and the West African Development Bank to strengthen the city’s flood resilience. The project includes upgrading drainage infrastructure across 34 basins, protecting over 500,000 residents and vital public assets.

Mongolia

The EIB and ADB are working together to build modern wastewater treatment facilities and enhance rainwater drainage systems in multiple Mongolian cities, addressing both water scarcity and public health risks exacerbated by urban growth and climate variability.

Cyprus

A longstanding 20-year collaboration between the EIB and Council of Europe Development Bank continues to support water infrastructure in every major municipality across Cyprus. Projects include the construction, expansion, and modernization of water supply and sewerage networks.

The Road Ahead: Scaling Water Security for Development

The Joint Annual MDB Water Security Financing Report establishes a new standard for transparency, accountability, and coordination among global financiers of water-related development. It also demonstrates the MDBs’ resolve to address climate vulnerability, rapid urbanization, and inequality in water access through strategic, targeted investment.

Water security is directly linked to achieving the Sustainable Development Goals (SDGs), particularly SDG 6 (Clean Water and Sanitation), but also indirectly influences health, education, food security, economic productivity, and gender equity.

The MDBs aim to build on this 2024 investment foundation by expanding their water sector engagement with a focus on:

• Blended finance mechanisms

• Nature-based solutions

• Resilient infrastructure in fragile and conflict-affected regions

• Digital innovation in water management

• Water governance and policy reform

As climate change intensifies and global water demand continues to surge, the MDB Water Sector Coordination Group's joint financing and knowledge-sharing efforts signal a bold and unified approach to ensuring that clean, safe, and resilient water systems become a global reality.