THE OPEC FUND IN THE WORLD
EVENTS
The Water Development Financing Forum for MENA
Finding solutions to water scarcity in the MENA region
Financing forum in Kuwait emphasizes need for regional cooperation
W ater scarcity is one of the biggest challenges facing the Middle East and North Africa (MENA) region. The Arab Fund for Economic and Social Development, in partnership with the World Bank Group, organized the “Water Development Financing Forum for MENA” in Kuwait in late January to address the issue and develop solutions. OPEC Fund President Abdulhamid Alkhalifa said: “Water is central to our focus areas.” MENA remains one of the most water- scarce parts of the planet. Compared to other areas, it has the lowest per capita water availability in the world. The region is facing an impending water emergency, with some populations already acutely at risk, according to the conference organizers. President Alkhalifa mentioned three key priorities that guide the OPEC Fund’s approach: (a) drinking water
The OPEC Fund President was joined by Mohammed Saif Al-Suwaidi, Director General, Abu Dhabi Fund for Development (ADFD) and Sultan Abdulrahman Al-Marshad, Chief Executive Officer, Saudi Fund for Development (SFD), in emphasizing the need for partnerships. “Cooperation on water fosters trust, inclusion and shared progress across the MENA region,” he said. The active support of development finance institutions is vital, he added, mentioning examples such as efforts led by the League of Arab States to strengthen water management and the work of the Arab Countries Water Utilities Association towards Sustainable Development Goal 6 – Clean Water and Sanitation. Partnerships can fill financial gaps, promote efficiency and ensure transparency, President Alkhalifa said.
Abdulhamid Alkhalifa speaks at the Water Development Financing Forum
supply and safe sanitation for public health, (b) water for irrigation and food security and (c) water management in the context of climate change impacts. “Water is essential to achieve sustainable development and address interconnected global challenges such as food security, public health and climate resilience,” he said.
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