ME needs $200bn in water-related infrastructure
Dubai, November 26, 2008
The Islamic Development Bank (IDB), the Muslim world's premier multilateral financial institution, estimates that Arab countries may need to invest up to $200 billion in water-related infrastructure over the next ten years, in order to meet the rapidly growing demand for water and sanitation services.
It is estimated that as many as 50 million people still do not have access to safe drinking water in the Arab world with a further 97 million lacking access to adequate sanitation, according to a report carried by IDB's web-set.
While only a fraction of the investment requirements is currently being met by the private sector, IDB sees a greater role for the private sector in meeting demand for water and sanitation infrastructure services over the next decade, indicated Dr Ahmed Mohamed Ali, President of the IDB Group, at a high-level meeting of the United Nations Secretary General's Advisory Board on Water and Sanitation, held recently at Riyadh's Conference Palace and hosted by Saudi Arabia, in partnership with the Arab Water Council and IDB.-TradeArabia News Service