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Carlos Cosín

Guaranteeing Water’s Future: Rethinking Risk and Finance in Emerging Markets

Guarantees are reshaping the landscape of water finance in emerging markets. With multilateral development banks increasingly deploying risk-sharing instruments, the sector is witnessing a shift from sovereign dependence to a model of shared risk and private participation. To unlock the trillions needed for SDG 6, guarantees must evolve—from project-based tools to portfolio-level, market-deepening, and performance-linked instruments, integrated with hydrological and governance frameworks.