NUSA Dua - Director General of Infrastructure Financing of the Ministry of Public Works and Public Housing (PUPR) Herry Trisaputra Zuna assessed that joint commitment between stakeholders is a major challenge in implementing the Global Water Fund.
However, seeing the aspirations of many countries, especially archipelagic countries, Herry believes that the Global Water Fund will be a priority discussion at the 10th World Water Forum in 2024.
"Indeed, generally to build this commitment is certainly a major challenge, but in terms of togetherness, all countries have the same problem for this water, the need is large, resources are limited," said Herry as quoted by ANTARA, Monday, May 20.
Herry explained, in principle, the Global Water Fund is a financing platform that is applied to fill the financing gap in the water and sanitation sectors.
The Global Water Fund will have coverage throughout the country. Donants' funds will be mobilized to finance infrastructure in the water and sanitation resources sector.
According to Herry, financing in the water and sanitation sector currently still relies heavily on the government and the private sector, which are still very small when compared to financing needs in the sector.
"By forming a Global Water Fund, which we hope will be able to mobilize resources, so there are countries that need it, maybe there are also countries where in terms of excess funding can be carried out cross-section and the nature of the funds rolling, is an investment," he said.
The plan is that discussions regarding the Global Water Fund will be jointly discussed by the Minister of Finance of the Republic of Indonesia, Vice President of the World Bank, to the President of the Asian Development Bank at the High Level Panel World Water Forum 2024, Tuesday, May 21.
Harry is optimistic that Indonesia will have a strong enough position in the formulation of the Global Water Fund.
This considers Indonesia's status as the host of the World Water Forum 2024, as well as a global situation that further convinces other countries the need to maintain water availability.
"Tomorrow we are trying to initiate, so it is a kind of suggestion from the Government of Indonesia that there is a need to form a Global Water Fund, hopefully it will be welcomed by other countries, then after that there will be discussions, determinations and so on," said Herry.
As for the United Nations (UN) study, the world currently has seven years to pursue SDGs, especially those related to water.
SEE ALSO:
Water pollution and climate change are urgent causes. Currently, four million people live in water crisis areas. One in four cities faces water vulnerability.
Through a number of cooperation and policies, including large investment and financing. Water infrastructure alone is estimated to require funds of 6.7 trillion US dollars by 2030.
However, the global water sector currently only attracts less than 2 percent of public spending. More funding is needed and a more innovative approach to maximizing the benefits of funds.
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