Fiscal policies intertwined to public-private partnership investment in water and sanitation for achieving SDG 6: a systematic literature review

Abstract

Alone, the public sector cannot help nations achieve Sustainable Development Goal 6 target by 2030 due to financial constraints. Studies indicate that shifting water financing policies creates unequal social and economic impacts across different regions and timeframes. These disparities stem from the uneven natural distribution of water and the ongoing competition between different sectors for limited resources. Complex, ostensibly, synergistic public-private partnerships in water financing distends and intersperse with geopolitical dynamics disenfranchising fragile livelihoods in least developed nations with contrasting patterns for the developed world. A caveat looms in synthesizing, developing, decoding and integrating fiscal policies to incentivise multifaceted stakeholder financing, participation and uptake and mainstreaming holistic water and sanitation projects for sustainable livelihoods. This contemporary systematic and bibliometric literature review used a derivate SPAR-4-SLR model to evaluate the contribution of financial paradigms and fiscal policies toward the attainment of SDG 6 targets by 2030 for Africa, Asia, and South and North America. Extensive research highlights a persistent financing gap in the water and sanitation sectors, which fundamentally aligns with global patterns of systemic poverty. While developed nations have successfully leveraged functional public-private partnerships to address these shortfalls, lower-income regions remain trapped by a lack of investment capital. Future research imperatives delegate towards evaluating the stochastic impacts of capital markets, in tandem with tailored water market instruments buttressed by donor funding and innovative localized funding mechanisms to achieve SDG 6 by 2030.