The World Bank Group and a coalition of major development lenders have launched a global water security platform that aims to deliver reliable water access to more than one billion people by 2030, as mounting shortages threaten economic growth, food systems, and job creation across the developing world.
The platform, known as Water Forward, was launched on April 15 at the 2026 Spring Meetings in Washington, D.C., in partnership with multilateral development banks, development finance institutions and key partners. It will align policy reforms, financing, and partnerships to expand reliable water services and strengthen systems against droughts and floods, which the World Bank describes as essential conditions for job creation.
Water underpins health, food systems, energy, and an estimated 1.7 billion jobs worldwide, yet four billion people currently experience water scarcity. In many countries, unclear policies, weak regulations, and financially unsustainable utilities have slowed progress and deterred investment in the sector.
World Bank Group President Ajay Banga, speaking at the launch, said water systems are central to whether economies can function. He said the programme will see countries identify priority areas, then development banks, governments, philanthropies, and the private sector align behind those plans.
At the core of the initiative are country-led water compacts, through which governments define reform priorities, commit to strengthening institutions, and establish investment pathways for their water sectors. Fourteen countries announced their national water compact at the launch, with many more in development.
Annual water spending in developing countries stands at $164.6 billion, leaving a funding gap that would require a near-tripling of investment to close. The World Bank noted that public investment alone is insufficient and emphasised private participation alongside public oversight, with private investment in water potentially doubling from around 10% to 20% within a decade through reforms, de-risking tools, and cost-reflective pricing.
Water Forward will initially focus on 14 countries in water-stressed regions in Africa, the Middle East, and South Asia, prioritising projects that reduce leakage in urban areas, modernise irrigation, improve wastewater reuse, and expand data-driven planning.
The World Bank Group committed to delivering water security to 400 million people by 2030 through its own programmes. Partner commitments are expected to push total reach beyond one billion. Participating institutions include the Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB), Inter-American Development Bank (IDB), Islamic Development Bank (IsDB), and the International Fund for Agricultural Development (IFAD).
Global demand for freshwater is expected to outstrip supply by up to 40% by the end of the decade, with water-related shocks already costing some countries several percentage points of annual economic growth. With over 1.2 billion young people expected to enter the workforce in developing countries over the next 10 to 15 years, the World Bank said reliable water systems will be critical to sustaining job creation and attracting private capital.
