File photo for representational purposes only.
Washington, United State: The World Bank announced a plan Wednesday that aims to improve secure water access for a billion people within the next four years.
The new "Water Forward" program aims to "expand reliable water services and strengthen systems against droughts and floods."
The Bank said its own funds and technical advice would help improve water supplies to some 400 million people by 2030, with the balance coming from partners.
Regional development banks, OPEC's development fund, and the BRICS-aligned New Development Bank are among institutions that will participate, the World Bank said.
The global lender did not specify how much capital it would commit to the initiative.
Some four billion people -- half the world's population -- face water scarcity, due in part to "unclear policies, weak regulations, and financially unsustainable utilities that have slowed progress and deterred investment," the Bank said.
The global lender said that 14 countries had already voluntarily committed to reform and strengthen their water sectors under the new program.
