TIRANA, April 17 /ATA/ – Albania has reaffirmed its commitment to long-term water security at the launch of the global “Water Forward” initiative, organised by the World Bank Group (WB) on the sidelines of its Spring Meetings.
At the high-level event, which aims to strengthen water security and expand partnerships in the sector through increased investment, Finance Minister Petrit Malaj highlighted Albania’s focus on sustainable development of its water sector.
“With clear objectives through to 2030 and in close partnership with international institutions, Albania will continue working to build a modern, sustainable sector aligned with European standards,” Malaj said.
The “Water Forward” initiative, launched by the World Bank Group in cooperation with multilateral development banks and international partners, aims to improve water security for more than 1 billion people by 2030 through reforms, financing and partnerships that strengthen resilience to droughts and floods.
World Bank Group President Ajay Banga said water is critical to economic performance, underscoring the need to align reforms and financing to expand access to safe water services.
According to the World Bank, water scarcity remains a major constraint on global economic development and employment, with demand expected to outstrip supply in the coming years. The initiative also aims to help improve access to water for 400 million people by 2030.
e.xh/j.p/u.sh/
