The Asian Development Bank (ADB) and the government of Japan on Tuesday launched a new fund to strengthen water security and help countries across Asia and the Pacific tackle worsening floods, droughts and other water-related challenges.
Japan will make an initial contribution of $10 million to the fund, according to a message received from Tokyo.
ADB President Masato Kanda said water was fundamental to life and a key driver of development.
“When water systems fail, crops dry out, businesses slow down, children miss school and families become more vulnerable,” he said.
“When water is managed well, communities thrive, investment follows and economies grow. Water is also a clean and reliable source of hydropower, which is more important than ever in today’s energy markets.”
ADB and Japan established the Water Initiative for Security, Efficiency and Resilience (WISER) Fund to support ADB developing member countries.
The fund will help countries strengthen water systems, reduce disaster risks, improve water-use efficiency and adopt digital and innovative solutions to address water-related challenges.
Kanda said Asia and the Pacific had shown that progress was possible, but countries needed to move faster, invest smarter and make water security a foundation for a more resilient future.
