Saudi Arabia’s water project financing surpasses $6B
Prince Mohammed bin Salman bin Abdulaziz, Saudi Crown Prince and Prime Minister, (C-R) stands with French President Emmanuel Macron (C-L) for a group photo together with other heads of state participating in the One Water Summit in the capital Riyadh on Dec. 3, 2024. (AFP Photo)
Saudi Arabia financed more than $6 billion in over 200 water projects across 60 developing countries, Saudi Crown Prince Mohammed bin Salman stated on Tuesday (Dec. 3).
Salman highlighted at the One Water Summit in Riyadh the pressing global challenges in water management, including rising drought levels and escalating water scarcity, which threaten human lives and communities.
Saudi Arabia brought water issues to the forefront of global policy discussions during its G20 presidency in 2020. The kingdom is set to host the World Water Forum in 2027, in collaboration with the World Water Council, according to Salman.
He noted that in September 2023, Saudi Arabia announced the establishment of a global water organization in Riyadh to coordinate international efforts to address water challenges comprehensively.
It also will focus on solutions through technology sharing, innovative research and strengthening international collaboration, he added.
The crown prince invited U.N. member states, international organizations and private sector stakeholders to join the organization.
The summit, co-chaired by Saudi Arabia, French President Emmanuel Macron, Kazakh President Kassym-Jomart Tokayev and World Bank President Ajay Banga, brings together nations, international bodies and private enterprises to tackle water sector challenges and financing within the broader environmental context.
Discussions aim to develop actionable solutions to the worsening global water crisis fueled by climate change, biodiversity loss and pollution.
The summit also serves as a preparatory platform for the U.N. Water Conference in 2026.
