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    African Development Bank Board Approves a New Policy, Prioritizing Water Security and Sustainable Economic Growth

    Posted On 28 May 2021
    By : New Africa Business News, Staff Correspondent
    Comments: 10

    By Richard Adorsu-

    Photo Credit: The government and business journal

    NEW AFRICA BUSINESS NEWS (NABN) Accra- The Board of Directors of the African Development Bank Group has approved a new policy on water, prioritizing water security and the transformation of water assets to foster sustainable, green and inclusive economic growth in regional member countries.

    “This new policy on water provides a general framework for the African Development Bank Group to expand its role as the continent’s partner promoting the integrated development and management of Africa’s water sector for inclusive and sustainable growth in Africa,” said Atsuko Toda, the Bank’s Acting Vice President for Agriculture, Human and Social Development.

    The policy aims to promote Africa-wide attainment of a minimum platform of water security, with a special focus on areas of fragility, as well as assist African countries and sub-regional groups harness and sustain water resources productivity potential to support development.

    The new Water Policy is anchored around four principles:

    Principle 1: attaining water security at household, national and regional levels should be recognized as a key outcome fundamental for inclusive growth. The Bank seeks to promote the attainment of water security in all its regional member countries and sub-regions.

    Principle 2: equitable social welfare and economic growth. The Bank will continue to advocate for an integrated approach to water development and management by striking a sustainable balance in the social, economic and environmental spheres.

    Principle 3: promoting sustainable and equitable access to water services as an enabler for the Sustainable Development Goals.

    Water is a key enabler for many of the United Nations Sustainable Development Goals, The Bank considers water to be essential for life, health, dignity, empowerment, environmental sustainability, peace and prosperity. The new policy aims to vigorously promote water security to advance the SDGs agenda.

    Principle 4: transboundary water resources management and development should be recognized as a significant requirement to achieve seamless regional economic integration. The Bank will actively seek to use the transboundary nature of water to enhance regional integration and promote conflict resolution.

    In its assessment of the policy, the Bank’s Board commended the Bank’s water, policy and strategy departments for leading the policy-preparation process.

    “That the Bank’s Board noted the new policy is a best practice for excellence in quality, selectivity and degree of consultation. The Board’s acknowledgement will add to our motivation to see the policy diligently implemented,” said Osward Chanda, Officer in Charge for the Bank’s Water Development and Sanitation Department. “We are grateful for the inputs and perspectives provided by Bank departments that are part of the water ecosystem, which helped shape this Water Policy,” he added.

    The Bank will establish an internal coordination mechanism for water-related interventions to be overseen by a committee with adequate capacity, resources and appropriate skills. Since 2010, the African Development Bank has invested an estimated $6.2 billion in water supply and sanitation services delivery.

    COVID-19 has exposed vulnerabilities caused by under-investment in water, sanitation and hygiene services, also known as WASH. Despite these challenges, the active water sector portfolio stood at $4.3 billion, comprised of nearly one hundred national projects implemented in 40 countries, and 6 multinational projects.

     

    For New Africa Business News Richard Adorsu Reports,  Africa Correspondent

    Email: Info@newafricabusinessnews.com

    AFRICA’S MOST READ AND FASTEST GROWING GLOBAL NEWSPAPER – www.newafricabusinessnews.com

    About the Author
    New Africa Business News Staff Correspondent
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    10 Comments

    1. Zeida May 28, 2021 at 3:17 am Reply

      Thank you always for reporting African news. Prioritizing water security is extremely important. Zeida in Gaborone BOTSWANA

      • New Africa Business News, Staff Correspondent May 28, 2021 at 3:32 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. Kim May 28, 2021 at 3:20 am Reply

      I love reading all these great projects and investments that African development bank doing in our great continent. Luanda in Angola. Kim

      • New Africa Business News, Staff Correspondent May 28, 2021 at 3:31 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. Paul May 28, 2021 at 3:22 am Reply

      This bank’s Africa investment is great. Juba South Sudan. Paul

      • New Africa Business News, Staff Correspondent May 28, 2021 at 3:31 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. Andy May 28, 2021 at 3:23 am Reply

      Thank you for the newsletters. Love them. Andy in Bristol, UK

      • New Africa Business News, Staff Correspondent May 28, 2021 at 3:31 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    5. Solomon May 28, 2021 at 3:28 am Reply

      Water is very important. Should be a priority as our population in Africa is growing beautifully, would need water for our growing population. Addis Ababa in Ethiopia. Solomon

      • New Africa Business News, Staff Correspondent May 28, 2021 at 3:30 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

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