GENEVA, Nov. 10, 2022 /PRNewswire/ -- The Asian Development Bank (ADB) has formally joined the UN-hosted Sanitation and Water for All global partnership, committing to improving water security and resilience in the Asia-Pacific region.

The SWA partnership convenes 305 partners, including other prominent financial institutions such as the African Development Bank, the Inter-American Development Bank and the World Bank.

Today, two billion people in Asia and the Pacific lack adequate water and sanitation. This entrenches people in poverty, fuels infectious disease and hiders economic growth.

The ADB estimates that the region needs an annual investment of about $60 billion in capital investment for water-related infrastructure and services.

Through their partnership, SWA and the ADB will work to mobilize innovative financing which meets infrastructure and service needs. Additionally, they will work with government partners to scale up climate adaptation and mitigation strategies to address increasing water scarcity and threats to sanitation infrastructure.

"Water cuts across all of ADB's seven operational priorities including combatting poverty, tackling climate change, accelerating gender equality and improving livability in our cities. Addressing the region's water security challenges is critical to delivering on the United Nations Sustainable Development Goals," said Neeta Pokhrel, Chief of ADB's Water Sector Group.

SWA CEO Catarina de Albuquerque added: "The ADB brings enormous convening power in the region, as well as significant knowledge and expertise in the water and sanitation sector. We are thrilled to work with them to boost political will and accelerate their efforts to realize these human rights."

ABOUT THE ASIAN DEVELOPMENT BANK (ADB)
The ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

ABOUT SANITATION AND WATER FOR ALL (SWA)
SWA is a United Nations-hosted partnership working towards a joint objective of water, sanitation, and hygiene for all. Our partners include governments, utilities, regulators, donors, financial institutions, UN agencies, civil society and research organizations and the private sector For more information, visit www.sanitationandwaterforall.org.