The "Financing Water for All" report stated that financial flows to the water sector need to at least double, and need to come from financial markets, from water authorities themselves through tariffs, from multilateral financial institutions (MFIs), from governments, and from public development aid paralel to a reform of the water sector governance.
The report came out with recommendations to improve water sector financing and adressed all stakeholders.
If the recommendations were maybe to recent to be perceived in depth during the World Water Forum in Kyoto, 2003, they started soon permeating the international community during the following months.
The Development Committee in its Communique for its 2003 Spring meeting in Dubai noted "the recent report of the Panel on Financing Water Infrastructure, and asked the World Bank to consider before its next meeting how it can implement relevant recommendations of the Panel report".
In response to this request, the World Bank Group (WBG) published in September 2003 a paper titled "Implementing the World Bank Group Infrastructure Action Plan (with special emphasis on follow-up on the recommendations of the World Panel on Financing Water Infrastructure)". This paper intended to inform the Development Committee of the WBG Infrastructure Action Plan, which was developed in response to client demand to revitalise the WBG infrastructure business. An integral part of the Infrastructure Action Plan is the WBG follow-up action to the recommendations of the Camdessus Panel.
The G8 summit in Evian adopted a G8 Water Action Plan, which closely follows the Panel recommendations and called the World Bank "in consultation with other MFIs to study and recommend necessary measures to implement the following proposals made by the World Panel on Financing Water Infrastructure: using financing instruments in a more flexible manner to allow loans directly to sub-sovereign bodies, where appropriate; developing guarantee and insurance schemes for risk mitigation; and addressing the issue of sovereign and foreign exchange risk coverage".
The World Bank Group issued a Response to the Report of the World Panel on Financing Water Infrastructure in July 2003, which oulined the World Bank Group proposed follow-up actions.
In response to the Panel recommendations and the following request of the G8, the World Bank Group begun a series of initiatives designed to investigate and possibly resolve some of most persistent financing problems in the water sector.
A Comparative Review of IFI Risk Mitigation Instruments and Direct Subsovereign Lending (Pricewaterhouse Coopers, 2003) was carried out to summarize experiences of multilateral banks in issuing guarantees for water and other infrastructure projects and in subsovereign direct lending.
Subsequently, a working group meeting of all Multilateral Financial Institutions was held to review the experiences and to identify ways to increase financial flows to the sector. Findings from the review were presented in the paper Financing Water Supply and Sanitation Investments: Utilizing Risk Mitigation Instruments to Bridge the Financing Gap, Aldo Baietti and Peter Raymond, 2005.
The Asian Development Bank (AsDB) actively participated in the Panel and generally supports the Panel recommendations, which are broadly consistent with its water policy. AsDB committed to help implement these recommendations and issued the Response of the Asian Development Bank to the Report of the World Panel on Financing Water Infrastructure in January 2004. This response is intended to situate the AsDB's water-related work in the context of the Camdessus Report and to provide stakeholders with AsDB's perspectives and key issues.