Latin America looks to achieve decent water management

As part of the 9th World Water Forum 2022 preparations, CAF—development bank of Latin America—and the World Water Council, organized the online event: “Finance and Water Governance in Latin America and the Caribbean,” to debate and analyze initiatives undertaken by countries, financial institutions and civil society stakeholders with various roles and responsibilities around water financing and governance.

At the opening of the event, CAF executive president Sergio Díaz-Granados noted that more than 160 million Latin Americans and Caribbeans do not have access to safe water, and more than 430 million do not have access to safe sanitation in the regional context. Based on these data that impact people’s quality of life, he talked about the importance of the conference and bringing the voice of Latin America to the 9th Water Forum.  He also stressed CAF’s motivation in promoting a joint vision for the goal of achieving water coverage, quality and sustainability. He highlighted that to meet SDG 6 in the region, financing for the sector must be increased, also commenting on the pre-investment program implemented by CAF for the water sector, which has 20 million non-reimbursable dollars as a contribution toward accelerating investment gestation in the sector.

Meanwhile, World Water Council President Loic Fauchon highlighted the need for a stronger commitment to water and a better financing environment that includes the right policies, a decent institutional framework, viable projects, and the experience and staff to properly design and implement these projects. He also mentioned that, despite all the progress made, there is a long way to go to achieve the SDGs relating to water, especially in the context of a pandemic that exacerbated existing inequalities.

The event featured a keynote speech by Julián Suárez, CAF’s Vice President of Social Development, who confirmed the existing gap in access to drinking water and sanitation, including wastewater treatment. He said that the pandemic has hit Latin America and the Caribbean particularly hard, both in economic and social terms, hence the importance of working on a recovery agenda that involves allocating more funds for urgent matters but also on a sustainable basis. Structural problems should be addressed through innovative mechanisms, for example by combining financing and creating favorable environments for water governance.

The first day of the conference was devoted to the issue of financing from a legislative and regulatory perspective, as well as sharing the vision of financiers. Funding for irrigation activities to eradicate hunger and contribute to food security was also discussed.

The second day of the conference addressed the issue of governance as pillar for integrated water management, in the provision of drinking water and sanitation services, as well as management of water-related disasters. The meeting highlighted the need to strengthen regulatory frameworks and legal security, as well as oversight, regulation and service delivery institutions. Other issues included the importance of network governance, through alliances, partnerships, South-South cooperation and processes involving greater citizen participation, to bring about greater legitimacy and timely accountability. CAF’s water agenda coordinator Franz Rojas Ortuste described the conclusions drawn over the two days.

The closing of the event was attended by Christian Asinelli, CAF’s Corporate Vice President of Strategic Programming, who stressed the need to increase financial resources aimed at bridging gaps in water access, quality and sustainability, thereby ensuring affordable and efficient services. Lastly, he referred to CAF’s water strategy, which is fully related to climate action and in line with the aspiration of turning the institution into the green bank of Latin America and the Caribbean.