The African Development Bank (AfDB) said the amount was reached at the completion of last year. AfDB also mentioned accelerated efforts to close a huge financing gap. This is as a result of undermined efforts to avail safe drinking water and modern sanitation facilities.
Senior bank officials said that robust water and sanitation financing is key to achieving sustainable development Goals (SDGs). AfDB’s Director General for East African Regional Hub Gabriel Negatu termed water as central to the achievement of sustainable development goals.
Negatu further added that AFDB has supported innovative financing mechanism. This will ensure grassroots communities in Africa get access to clean drinking water. It will also include budget friendly sanitation facilities.
According to the AfDB statement, 104 projects in 52 countries launched should boost access to safe drinking water under the Africa Water Facility. Likewise, the Rural Water Supply and Sanitation Initiative saw 37 projects rolled out in 25 countries.
Focus on the High 5s-light up and power Africa, according to the bank emphasize the importance of water to human development and poverty alleviation in Africa. The strategic focus areas serve the purpose of feeding Africa, industrialization, integration and improving the quality of life for the people of Africa.
The pan-African lender has reached out to key partners. These will help close a financing gap in water and sanitation sectors across Africa. The total amount is currently between US $6 and 14Bn on an annual basis. The AfDB funding is alongside capacity building for local communities to boost conservation of water catchments.