effective financial management
The latest research on effective financial management for water and sanitation services shows that countries are facing enormous challenges related to the water, and sanitation sector and are experiencing hardships in the sustainability of services to all (Pories et al., 2019). For instance, a media article “Policy options” in 2019 revealed that First nations in Canada are likely to face a lack of access to clean water in the upcoming years. The CBC inquiry also unleashed that around 180 homes in First Nation Hill are facing a crisis due to lack of running water and indoor plumbing.
In general prospects, the word WASH is frequently used to describe the infrastructural requirements combine with systems (people, finance, regulations) needed to offer water sanitation and hygiene services in the international development context. However, the World Bank estimated in 2019, that the current value of investment needed for hygiene and WASH is likely to exceed 1.7$ by 2030, which is around six times more than the current WASH system. This contemporary funding falls could be better eliminated if private sectors like organizations or markets like water funds are allowed to improvise sanitation services and ensure equity, and accountability services. This overall discussion could be better linked with the United Nations sustainable goals 2030, which clearly stated that sustainable water management and sanitation should be ensured or everyone around the world. However, with the existing funding gap, exhibited by the UN-Water global analysis and assessment of drinking water, it is arguably correct that if there is a modest increase in private sector budgets, inadequate funding could be alleviated and national targets would be attained.
Here I would like to support my key argument with the movie, “Even the rain”, which showed how local natives raised their voice against the privatization of water and how it led to the water crisis. This reflects how it is immensely important to ensure the accountability of water sanitation. Moreover, even the article by Goldman (2005) reflects on how the policies and plans to provide clean water for all help corresponding measures for financing. Sometimes when the government is facing fiscal constraints and high debts, they have a limited room to borrow additional funds and meet the funding gap prevailing in the water and sanitation sector. If countries do have adequate access to a global policy like ” water for all” transnational policy presented by the World Bank, it can often struggle with absorbing structural deficiencies and facilitate water delivery and sanitation system. Much of the empirical research like Goldman (2005) and as the movie “Even the rain” shows that with adequate financing through private organizations extends access to global water policy and how it could offer substantial institutional impacts. In my perspective, the evident role of transnational policy in linking countries and private organizations and development NGOs could facilitate the growth and efficacy in terms of hygiene and water sanitation. This overall phenomenon exhibits that with the latest development regime, we can alleviate the water crisis and help countries to enact them.