During the 39th African Union Summit held in Addis Ababa, the African Development Bank (AfDB) presented an ambitious strategy aimed at closing an estimated annual 70 billion USD financing gap in the continent’s water sector. This initiative comes as more than 400 million Africans still lack access to safe drinking water and adequate sanitation infrastructure.

According to the AfDB, the gap is mainly due to the urgent need for investments in resilient and sustainable water infrastructure. To address this challenge, the bank highlighted the construction of multi-purpose dams capable of storing water, supporting agricultural irrigation, and contributing to energy production and industrial development.

The AfDB’s strategy also focuses on mobilizing large-scale public and private capital, reforming Africa’s financial architecture, and integrating digital technologies to improve water resource management. The goal is to make water a bankable asset, attracting sustainable investment and contributing to water and food security across the continent.

During the summit, African leaders emphasized the importance of strengthening regional cooperation to ensure equitable water distribution and address challenges related to climate change and population growth. The AfDB reaffirmed its commitment to supporting member states in implementing structural projects to improve access to water and promote inclusive economic development.

This initiative reflects Africa’s determination to reduce infrastructure deficits in the water sector and transform water management into a driver of sustainable development while improving living conditions for its populations.