The world's 10 multilateral development banks (MDBs) are committed to joint action to improve global water security by 2030. The Water Security Financing Report 2024 is the first annual report to monitor this joint commitment. The 2024 report provides a baseline for subsequent years as conditions evolve and the global focus on water security for human development, jobs and prosperity increases. This report focuses on water sector financing and actions underway to achieve joint action. It describes the current state of the global water sector, including water supply and sanitation, water for agriculture and water resources management. The report highlights significant investment shortfalls, particularly in water supply and sanitation, and the sector's low budget execution rate linked to systemic regulatory and institutional weaknesses. The report provides a baseline figure on MDB investments in the sector. In 2024, the 10 MDBs approved $19.6 billion in global water sector investments, of which $14.4 billion directed to low-, lower-middle-, and upper-middle-income countries. MDBs also invested over $218 million in technical assistance. The report emphasizes the importance of collaboration among MDBs, detailing coordination meetings and examples of co-financed projects in Barbados, Benin, Cambodia, Cyprus, Egypt, India, Mongolia, the Philippines, South Africa, and Tunisia. These collaborations demonstrate efforts to leverage financing, share expertise, and address complex water challenges globally
