Participants of the meeting also agreed that if everything was left unchanged in the next 15-20 years, there would be a serious water crisis which needs to be prevented. A wealth of 15 billion dollars is in danger, and if no action takes place, this could triple by 2050. They also agreed that the pace of financing and investments needs to be accelerated. Water-related investments need to be aided by new, innovative financial solutions, the development banks need to support the proliferation of new water industry technologies. Experimental programmes need to be initiated all around the world in order to prevent a looming water crisit that could threated billions of people.
The President told that today’s meeting confirmed his belief that “water is the most important question of the 21st century, our indispensable and irreplacable resource”.
In relation to the endangered wealth he drew the example of the the infertile lands, the billion dollar hydropower plants which became inoperable due to the water shortage, and infrastructure that was destroyed by the floods.The extent of the damage caused by natural disasters has increased dramatically in the last ten years, he added.The meeting of the High-Level Panel on Water was held on the occasion of the Budapest Water Summit 2016. The Summit is the most important diplomatic event in Hungary this year, to which around 1800 participants have arrived from 117 countries. In addition, 600 people registered as visitors of the Sustainable Water Solutions Expo. During the three days of the conference, several heads of state, prime ministers, ministers, high level representatives of international organisations, actors of the business and scientific society and of the civil sphere have come together to discuss the most pressing questions of water sanitation (sewage) and sustainable water management.
On the last day of the Summit, before the closing remarks, the final messages of the Budapest Water Summit 2016 shall be introduced to the participants, in which the outcome of the thematic sessions shall also be included.
The Budapest Water Summit 2016 is the first international conference to summarize the achievements of the water-related development policy and contribute to the selection of tasks of the next 15 years.
The High-Level Panel on Water which has started dialogue an adopted an action plan on global and sustainable water management earlier in New York, was also represented on the Summit.
The strategic goal of the Budapest Water Summit 2016 is to successfully link political decision-makers with solutions offered by financing, technology, and the civil society.