The Asian Development Bank (ADB) and Japan have launched a new fund to strengthen water security in developing countries across Asia and the Pacific, including the Philippines.
The Water Initiative for Security, Efficiency and Resilience (WISER) Fund seeks to build resilience against worsening floods, droughts and other water-related shocks.
The new fund will also support ADB developing member countries in improving water-use efficiency and adopting digital and innovative solutions to address emerging challenges in the water sector.
‘There is nothing more basic to life or more decisive for development than water. When water systems fail, crops dry out, businesses slow, children miss school and families become more vulnerable,’ ADB president Masato Kanda said.
‘When water is managed well, communities thrive, investment follows and economies grow. Water is also a clean, reliable source of hydropower, and in today’s energy markets that matters more than ever,’ Kanda said.
For the WISER Fund, the Japanese government is set to make an initial contribution of $10 million or roughly P617.7 million at current foreign exchange rates.
‘Investment in the water sector is indispensable to the sustainable development of the region and to improving people’s lives,’ said Satsuki Katayama, Japan’s finance minister.
Katayama pointed to Japan’s extensive experience in addressing water challenges, from minimizing leakage to advancing sanitation and strengthening disaster preparedness and response.
‘Japan will share this knowledge and expertise with the people of the region through ADB,’ she added.
The Asia-Pacific faces some of the world’s most severe water-related risks, with floods, storms and droughts increasingly threatening communities across the region.
About 220 million people in the region still lack access to basic water services and around 520 million remain without basic sanitation, according to ADB.
Citing its latest Asian water development outlook, the multilateral lender reported that 2.7 billion people across the region have moved out of extreme water insecurity since 2023.
Yet, environmental degradation, rising water-related risks and persistent gaps in infrastructure investment threaten to reverse progress and deepen existing vulnerabilities.