The African Development Bank (AfDB) has stated that its board has approved a new policy to prioritise water security and the transformation of water assets to foster sustainable, green and inclusive economic growth in member countries.
This was contained in a statement released by the bank on its website.
According to the bank, the policy aims to promote Africa-wide attainment of a minimum platform of water security, with a special focus on areas of fragility.
In January, Akinwumi Adesina, president of the African Development Bank (AfDB), condemned a situation where Nigerians provide water, electricity, security for themselves, despite paying taxes.
According to AfDB, the new water policy is based on four principles. These are attaining water security at household, national and regional levels, and equitable social welfare and economic growth.
Others include promoting sustainable and equitable access to water services as an enabler for the Sustainable Development Goals and recognising transboundary water resources management and development.
Atsuko Toda, the bank’s acting vice-president for agriculture, human and social development, said: “The 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.”
The bank said it will establish an internal coordination mechanism for water-related interventions 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,” it said.
“The Bank’s Board commended the Bank’s water, policy and strategy departments for leading the policy-preparation process.”