Water a Big Winner at CGI Annual Meeting

The Clinton Global Initiative held its annual meeting in New York this past week, bringing together leaders from around the world to discuss solutions to global challenges. Attendees discussed a host of issues ranging from education to climate change. One of the strongest financial commitments of the event went to water.

More than a dozen donors and organizations pledged over $400 million to programs promoting access to clean water and sanitation in the developing world. Napo Parmaceuticals Inc. came out on top with its commitment of $210 million to provide anti-diarrheal drugs to children in Africa. Diarrhea kills an estimated 2.5 million children every year, especially in areas of the world with little to no access to clean drinking water. This figure is all the more shocking when you take into consideration indirect effects of water scarcity on the economy – time lost searching for water, crop failures due to drought – that exacerbate the deleterious health effects of unsafe drinking water. Participants at the CGI meeting recognized the many dimensions to the water crisis and accordingly appropriated financial resources to other programs, like ones in microfinance and insurance. LeapFrog Investments Ltd. made a $100 million commitment to deliver low-cost insurance to nearly 25 million people in the developing world. They believe that access to insurance would encourage local entrepreneurs to take more risks that could lead to bigger pay offs.

Some of Hollywood’s biggest names were also in attendance. Matt Damon pledged $1 million through his H20 Africa Foundation while Drew Barrymore and Wyclef Jean promoted a $80 million commitment by Yum! Brands Inc., the world’s largest restaurant company, and UNWFP to provide school meals and deworming programs to 20 million children.

The private sector is playing an increasingly important role in supplying the developing world with clean water. The money raised in one day by CGI participants surpasses the U.S. government’s commitment of $300 million to the Water for the Poor Act in FY2008. It is refreshing to see the private sector stepping up to the plate on water issues, but the U.S. government needs to do its part to ensure that developing nations have access to clean water. Read more about GSI’s proposals in the recently released Global Water Futures report.

Click here for more information on the “Global Health Mega-Commitment on Water and Sanitation” at CGI.