Saudi Crown Prince Mohammed bin Salman. AFP
The organization, based in the Saudi capital Riyadh, plans to exchange expertise with governments and organizations and foster innovative water solutions in countries facing water-related challenges.
“By initiating the establishment of the organization, the Kingdom of Saudi Arabia emphasizes its commitment to addressing global water supply challenges,” the Saudi Press Agency SPA said.
According to SPA, the Saudi initiative reflects the oil-rich Kingdom’s dedication toward environmental sustainability by adopting a proactive role, "with over $6 billion allocated to various water and sanitation projects across four continents."
Moreover, the initative aims to make a meaningful contribution towards meeting water security-related sustainable development goals, in addition to creating a “long-lasting impact by bringing the international community together to ensure global water sustainability for humanity”, the press agency added.
The announcement comes against the backdrop of increasing pressure on water resources and growing global water demand which is expected to double by 2050, in parallel with the anticipated growth of the world population to 9.8 billion.