Finance |
commitment to ensure the availability and sustainable management of water, as promoted by Sustainable Development Goal (SDG) 6,” commented Vladimir Kazbekov, NDB VP & COO. “This project exemplifies NDB’s dedication to supporting projects that promote access to clean water, while prioritising sustainable management of water resources.” Nhlanhla Nkabinde, TCTA’s Executive Manager
for Project Finance & Treasury, added: “This pivotal partnership between the NDB and TCTA represents more than just the provision of water – it is an emblem of our shared commitment to sustainable progress and the empowerment of our communities. The Lesotho Highlands Water Project Phase II is not merely an infrastructure development; it’s a testament to what can be achieved when nations unite with a vision for a brighter and more sustainable future. The very essence of this project is to breathe life into our economy, and most importantly, ensure that every citizen who is impacted by the Vaal River System, which the project augments, has access to life’s most vital resource. As we embark on this transformative journey, we remain ever grateful to our partners and stakeholders for their unwavering support and trust. Together, we are sowing the seeds for a legacy of abundance, prosperity and resilience for generations to come.”
Developed countries One country that has recently been providing funding
Below: Funding from the US Department of the Interior is set to help maintain the ability to generate hydropower at Glen Canyon Dam
in hydropower and water is the US. Just last month, the Department of the Interior announced $50 million over the next five years to improve key water infrastructure and enhance drought-related data collection across the Upper Colorado River Basin. The Bureau of Reclamation is making an initial $8.7 million investment in fiscal year 2023 to support drought mitigation efforts in Colorado, New Mexico, Utah and Wyoming that will help ensure compliance with interstate water compact obligations, maintain the ability to generate hydropower at Glen Canyon Dam, and minimize adverse effects to resources and infrastructure in the Upper Basin.
President Biden’s Investing in America agenda
represent the largest investment in climate resilience in the nation’s history and is providing much-needed resources to enhance Western communities’ resilience to drought and climate change, including protecting the short- and long-term sustainability of the Colorado River System. Through the Bipartisan Infrastructure Law, Reclamation is investing a total of $8.3 billion over five years for water infrastructure projects, including water purification and reuse, water storage and conveyance, desalination and dam safety. The Inflation Reduction Act is investing an additional $4.6 billion to address the historic drought. The mid August announcement is one of the many historic investments the Biden-Harris administration is implementing as part of an all-of-government effort to make the Colorado River Basin and all the communities that rely on it more resilient to climate change, including the ongoing drought in the West. “The Biden-Harris administration is committed
to bringing every tool and every resource to bear to as we work with states, Tribes, and communities throughout the West to find long-term solutions in the face of climate change and the sustained drought it is creating,” said Deputy Secretary Tommy Beaudreau. “As we look toward the next decade of Colorado River guidelines and strategies, we are simultaneously making smart investments now that will make our path forward stronger and more sustainable.” “Resources from President Biden’s Investing in America agenda are allowing us to meet a number of program needs across the Colorado River System, including expanding the Basin’s existing network of instrumentation to improve water accounting, weather predicting and monitoring,” said Reclamation Commissioner Camille Calimlim Touton. “Today’s funding will enhance critical data and empower us with the best-available science and technology to more accurately measure the Upper Basin’s consumptive water use.” The initial $8.7 million will purchase and place 12 new eddy covariance stations. Reclamation will
40 | September 2023 |
www.waterpowermagazine.com
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