WaterAid responds to comments from Ajay Banga, new president of the World Bank, who has urged for faster progress in providing debt relief.
Sol Oyuela, Executive Director, Global Policy and Campaigns at WaterAid, said:
“The Word Bank’s new president is right to highlight the urgent need for debt relief for poor countries– we need closer and more meaningful cooperation and action on unsustainable debt burdens to ensure progress is not hindered on climate and poverty reduction.
“This week new findings also show the UK is 40% below its long-standing pledge to low-income countries of £11.6bn in climate funding – a hugely disappointing discovery that is undermining the UK’s global standing as a climate leader.
“The climate crisis is a water crisis, with a staggering 90% of all natural disasters water-related, and it’s the world’s most vulnerable who suffer the most. More investment is needed urgently to develop robust and reliable water systems which serve as a lifeline for communities facing destructive climate and economic uncertainty.
“Yet how can countries such as Malawi, Ghana and Zambia invest in climate-resilient water, sanitation and hygiene, health and education, when their debt service obligations exceed their total government revenue?
“We’re calling on the G20 to rapidly accelerate debt relief, including debt cancellation, to ensure poor countries are able to spend more on achieving the Sustainable Development Goals, including putting money where it matters by financing a future of sustainable and safe water, sanitation and hygiene for all”.