Context

• The 10th World Water Forum was held in Bali, Indonesia in May 2024 with the theme: "Water for Shared Prosperity".

Key Points

• It is jointly organised by the Government of the Republic of Indonesia and the World Water Council.
• The Forum is the world's largest event on water, held every three years since 1997 with a different host country.
• The Forum provides a unique platform for the water community and key decision makers to collaborate on global water challenges and make long-term progress commitments to provide clean and affordable water for all.
• The Forum aims to bring together participants from all levels and sectors, including political actors, multilateral institutions, academia, civil society and the private sector.
• This year's theme emphasises the need to work together to promote efficient and integrated water resources management for common prosperity.
• The 10th WWF has six subthemes: water security and prosperity; Water for man and nature; Disaster Risk Reduction and Management; Governance, Cooperation and Water Diplomacy; Sustainable Water Finance; and knowledge and innovation.

 Main objectives of the World Water Forum

• Increasing the importance of water on the political agenda.
• Raising awareness among decision makers, water and other professionals, media and the public on world water issues of serious concern.
• Supporting deepening of discussion toward resolution of international water issues.
• To provide a forum for exchange of ideas, information and knowledge on current issues and information related to global water.
• Present knowledge on global water assessment, challenges and potential solutions.
• Generating political commitment for improving water management etc.

 Water for Shared Prosperity Report

• Water for Shared Prosperity released at the 10th World Water Forum.
• The report highlights growing gaps in access to water resources and services that impact human and economic development around the world.
• Despite water being a fundamental source of prosperity, millions of people face barriers to safe drinking water and sanitation.
• In 2022, 2.2 billion people did not have access to safely managed drinking water services, while 3.5 billion people did not have access to safely managed sanitation.
• Access to safe drinking water, particularly in low-income countries, has seen a decline, with an additional 197 million people lacking access to safe drinking water since 2000.
• The report examined water-related inequalities at two levels: inequality between countries, particularly between high- and low-income countries, and inequality between the richest and poorest individuals in each country.
• The report further identified evidence of unequal access to water services among marginalised groups based on gender, location, ethnicity, race, political beliefs and other social identities.
• The Democratic Republic of the Congo has more than half of Africa's total water resources.
• Water scarcity is greatest in hotspots in the Sahel, Southeastern Africa, and South and Central Asia.
• The report identified four interrelated components of prosperity. These are health and education (human capital), jobs and income, peace and social cohesion (social capital), and environment (natural capital).

Important Facts For Exam

World Bank

• Established in 1944 as the International Bank for Reconstruction and Development (IBRD) together with the IMF. 

Five Development Institutes

• International Bank for Reconstruction and Development (IBRD)
• International Development Association (IDA)
• International Finance Corporation (IFC)
• Multilateral Guarantee Agency (MIGA)
• International Center for Settlement of Investment Disputes (ICSID)
• Note :  India is not a member of ICSID.

Major reports

• Ease of Doing Business (Discontinued Publication)
• Human capital index
• World development report