BAKU, Azerbaijan, 13 November 2024 – The Islamic Development Bank (IsDB) today reaffirmed its commitment to strengthening climate-resilient water infrastructure across its member countries at a high-level side event titled “Unlocking Financing for Climate-Resilient Water Investments in IsDB Member Countries.” Held at the IsDB Pavilion in Baku, the event brought together government leaders, ministers, and key stakeholders to address the urgent need for innovative financing to support sustainable water solutions.

"Water is the foundation of life, health, and progress, essential for achieving the Sustainable Development Goals. Yet, many of our member countries continue to face significant challenges in water access, impacting their most vulnerable communities. In the 57 IsDB member countries, 258 million people—12.9% of the population—still rely on basic drinking water services, with 154 million of them in Sub-Saharan Africa.," remarked H.E. Dr. Muhammad Al Jasser, Chairman of the IsDB Group. "As a key development partner, the Islamic Development Bank is dedicated to empowering our member countries to build climate resilience in the water sector. Through financial support, technical expertise, and policy guidance, we are committed to ensuring that sustainable and equitable water access becomes a reality for all.”

Since its inception, IsDB has invested over US$9 billion in water-related projects, encompassing water and sanitation infrastructure, hydropower, flood protection, and climate-resilient irrigation. Key recent projects include a US$1.15 billion Climate Resilient Water Resources Development Project in Kazakhstan, which will rehabilitate 3,400 kilometers of irrigation networks to benefit 350,000 hectares of cropland, enhancing food security and climate resilience. In Azerbaijan, the Bank approved the US$96 million Maiden Tower Climate Resilient Water Project, which will create an irrigation scheme for 8,400 hectares, directly impacting the livelihoods of 1.6 million people.

Building on momentum from COP28, where IsDB led multilateral development banks in a pledge to scale up support for climate-resilient water systems, the Bank continues to prioritize investments in water-stressed regions and vulnerable communities.

Dr. Al Jasser highlighted that IsDB’s strategy goes beyond traditional financing by fostering collaborative and integrated partnerships with governments, the private sector, and development agencies to drive innovation in climate-smart water management, research, and capacity building.

As discussions progressed, stakeholders at the event reiterated the need for bold steps to unlock financing, harness innovation, and develop infrastructure that meets the needs of climate-vulnerable regions.

IsDB’s integrated strategy is designed to build resilience, bolster food security, and ensure that water security becomes a reality for future generations.