On June 17, 2015, Israel and the World Bank Group signed an agreement in Washington D.C. The agreement will focus on sharing water expertise and industry best practices with developing countries and World Bank Group staff. It will include a number of activities, including study tours that will aim to transfer global knowledge on water security issues.

"We are proud to join the prestigious group of countries that contribute to the Bank. It is not that far back that Israel was a borrowing country from the Bank," said the Israeli Minister of Economy, Mr. Aryeh Deri.  "Israel has suffered from a chronic water shortage for years. The need for water led Israel to create innovative and advance policies and solutions that have placed us as a water world leader. We wish to share our experience with the developing world. We see this agreement as a first step that will allow us to launch our partnership with the WB and later to build on it and broaden it."

Located in one of the driest regions in the world, Israel has been dealing with continuous shortage of water which has worsen over the past few years due to prolonged droughts and an increasing population. To tackle the issue, Israel has developed innovative approaches in addressing this challenge.

"Israel has had to manage water services while operating under extreme scarcity conditions, and has done so very impressively," said Jennifer Sara, Director for Water at the World Bank. "Its innovative practices are globally recognized - both from technological and institutional perspectives - and will undoubtedly carry lessons for many of the World Bank Group's clients facing water security challenges."

Under the agreement, study tours are expected to be held in Israel in the next two years and will include officials from developing countries, as well as World Bank Group staff. In addition, the agreement will include an analytical profile study of Israel's experience in managing water and transferring of global expertise on water security.

"This is our second agreement with the World Bank. It's an important step toward enhancing our cooperation with the World Bank. This step strengthens our efforts to support Israeli activities in the developing world and to focus on the water sector led by the national program - Israel NewTech. We hope to create more exposure to Israeli best practices, and we thank the Bank for its partnership," said Mr. Amit Lang, Director General of the Israeli Ministry of Economy.