Water Sector – Fighting Covid-19 in the age of Delta variant
The world’s poorest people were hit by the COVID-19 shock on top of already significant urban water and sanitation service shortages, all of which point to a potentially overwhelming burden of viral containment. In underdeveloped nations, low availability, dependability, and the quality of water, sanitation, and hygiene (WASH) pose hazards.
That said, COVID-19 has significantly emphasized the critical significance of having access to safe and reliable water. While capital projects may be delayed, an economic boost might help offset the negative impact of decreased income to pay capital expenses. Stakeholders should work to reprioritize the water industry following decades of underinvestment and political neglect.
Persistent lessons learned about disaster preparedness and the resilience of personnel, systems, and equipment may result in increasing investment in digital solutions.
The pandemic may assist to increase the use of automation and remote control procedures, which are becoming increasingly critical in times like these. Taking the COVID-19 effect into consideration, like the recent report from Global Water Intelligence (GWI) projects that worldwide spending on digital solutions would increase by an average of 8% yearly, from $32 billion in 2019 to $47 billion in 2024.
Additionally, automated consumer interactions may enable a cultural shift in the future. COVID-19 social distancing techniques will encourage businesses and customers to avoid physical contact with utility service centers in favor of alternative modes of engagement. More contacts between customers and utilities can be performed by phone, applications, or the internet, which are frequently already available.
The International Finance Corporation (IFC) will implement initiatives to support the sector, including (a) ensuring the continuity of essential capital expenditures and progress toward SDG 6, (b) assisting water utilities in digitalizing and improving their energy efficiency in order to build future resilience, (c) assisting wastewater reuse as a cost-effective solution to water scarcity by reinforcing the sector’s upstream activities in order to create markets, and (d) methodical development of the water investment pipeline through the use of instruments, including the hybrid annuity model, World Bank Group guarantees, or blended finance to de-risk private investments.
Click below to read the magazine
