World Bank Calls for Up to $70 Billion Annually to Expand Global Irrigation Systems by 2050

The World Bank called for a significant scale-up in global investment to expand and modernize irrigation systems, warning that between $24 billion and $70 billion in additional annual funding will be required through 2050 to meet rising food demand sustainably.

The findings, published in a report titled “Nutrition and Prosperity,” highlight the urgent need to rethink water management in agriculture as the global population continues to grow and climate pressures intensify.

Despite the funding gap, governments already allocate an estimated $490 billion annually to agricultural support, much of it in the form of subsidies. The report suggests that redirecting a portion of this existing spending, combined with regulatory reforms, blended finance mechanisms, and stronger public-private partnerships, could help unlock substantial private sector investment.

According to the World Bank, rebalancing water use across global food systems could generate up to 245 million long-term jobs, with the majority expected in Africa. This shift is seen as critical to ensuring both food security and economic resilience in developing regions.

Current agricultural water management practices, marked by overuse in some countries and underuse in others, are insufficient to sustainably feed even half of the global population, the report notes.

By 2050, the world will need to feed an estimated 10 billion people. Meeting this demand will require more efficient and sustainable use of water resources, alongside smarter decisions on crop selection, water allocation, and trade policies.

Pascal Lamy, a senior knowledge official at the World Bank, emphasized that water management choices will have far-reaching implications for jobs, livelihoods, and economic growth. He stressed the importance of building resilience, expanding opportunities, and safeguarding natural resources through improved decision-making.

The World Bank underscored that public financing alone will not be sufficient to achieve these goals. Greater private sector participation will be essential, supported by effective policies and regulatory frameworks that encourage investment in sustainable agriculture.

As part of its broader strategy, the institution has committed to doubling its annual financing for agribusiness to $9 billion by 2030. This effort aligns with its dual focus on addressing water and food security challenges through two core pillars: “water for food” and “water for the planet.”

The report concludes that transforming agricultural water systems is not only an environmental necessity but also a major economic opportunity. Without decisive action, current inefficiencies could undermine global food systems and exacerbate resource scarcity in the decades ahead.