Finance ministers from more than 40 African countries are working to mobilize more than 30 billion dollars a year for water and sanitation.

According to a note sent to our newsroom, these reforms must also be related to funding and political will, the participants heard.

To meet the targets of the UN Sustainable Development Goals on water and sanitation in Africa, funding must be at least three times higher than at present.

However, this figure is much lower than the 170 billion dollars - almost 5% of GDP - that sub-Saharan Africa loses every year due to inadequate water resources, contaminated water, and lack of sanitation.

According to the document, by the middle of this century, the economic cost of water-related climate impacts in African countries could reach 50 billion dollars a year. On the other hand, every dollar invested in climate-resilient water and sanitation infrastructure in Africa produces a return of at least 7 dollars.

At a virtual meeting in Geneva, finance ministers discussed various specific approaches that could bridge the current investment gap in water and sanitation:

Increase the national budgets for water and sanitation to 5% and 0.5%, respectively.

Establish partnerships with development banks to guarantee long-term financing for universal access to water and sanitation.

Ensuring the availability of sufficient funding for universal access to safely managed sanitation - a key development indicator that significantly reduces public health spending.

Invest in climate-resilient water and sanitation infrastructure, taking advantage of climate finance.

Reduce the debt and ensure that African nations can access a fair share of the Special Drawing Rights.

The organizers of the event encouraged participants to mobilize political will in their countries and to see investment in water and sanitation as a means of achieving economic growth, improving public health, and reducing inequalities.

Catarina de Albuquerque, CEO of SWA: "The meeting serves as a reminder that the challenges in the water and sanitation sector are as much about funding as they are about political priority. It is also vital that governments prioritize water and sanitation in their budgets and on their political agendas. I'm happy to see so many finance ministers committing to lead this process."