Nothing more basic to life than water: ADB President
New water security fund established to protect people across Asia, Pacific
The Asian Development Bank (ADB) and the government of Japan today (21 July) established a new fund to strengthen water security and protect people across Asia and the Pacific from worsening floods, droughts, and other water-related shocks.
Japan will make an initial $10 million contribution to the fund, according to a message received from Tokyo, Japan.
"There is nothing more basic to life, or more decisive for development, than water," said ADB President Masato Kanda, noting that when water systems fail, crops dry out, businesses slow, children miss school, and families become more vulnerable.
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"When water is managed well, communities thrive, investment follows, and economies grow. Water is also a clean, reliable source of hydropower, and in today's energy markets that matters more than ever. Asia and the Pacific has shown that progress is possible. Now we must move faster, invest smarter, and make water security the foundation of a more resilient future."
ADB and the government of Japan created the Water Initiative for Security, Efficiency and Resilience (WISER) Fund.
The fund will help ADB developing member countries strengthen water systems, reduce disaster risks, improve water-use efficiency, and apply digital and innovative solutions to water challenges.
