Thousands of participants, 140 ministerial delegations, more than 80 ministers, and members of hundreds of organizations are gathered this week in Marseille, France for the Sixth World Water Forum. The week-long forum aims to bring water crises facing communities, governments, and regions across the world to the forefront of political agendas.

More than 780 million people worldwide lack safe drinking water, according to a 2012 UNICEF/WHO report. Approximately 2.5 billion people in 2010 lacked improved sanitation, and 15 percent (1.1 billion) of the world’s population practice open defecation. The recently released UN World Water Development Report (WWDR4) cites that 3.5 million deaths per year are linked to insufficient sanitation, hygiene, and water supply.

“For the past fifteen years, the World Water Forums have advanced the understanding of issues related to this important topic … Things have moved too slowly, and we must now move up a gear to achieve our common goal,” said France’s Prime Minister Francois Fillon in his speech on Monday at the forum.

Meeting every three years since 1997, the forum provides a platform for debate through grassroots citizen involvement and the participation of experts and decision makers.  It also acts as a foundation for authorities to make commitments toward lasting solutions to global water challenges.

On Tuesday, forum participants announced that 2013 is going to be the “International Year of Water Cooperation.” Led by UNESCO, along with four other UN agencies, 2013 will focus on the successes achieved thus far in water cooperation, along with the span of water challenges still facing communities worldwide.

As a component of the Rural Water Supply Initiative in Africa, Chad, France, Italy, Ivory Coast, Niger, Republic of Congo, and Switzerland pledged $80 million. The Fourth African Water Week is scheduled in Cairo, Egypt for May 14-18, 2012.

During Wednesday’s Arab trialogue session, “Water and Energy,” Dr. Abid Thyab Al Ajeeli from the Arab Parliament predicted, “Currently 18 of the 22 Arab States suffer from water scarcity and by 2050 this will turn into water distress.” Holding only one percent of the planet’s fresh water, the Arab world contains five percent of the world’s population.

The panel discussion focused on desalination, already widespread in the Gulf States, and renewable energies as alternatives to the current fossil fuel reserves powering desalination plants. Zaher bin Khalid Al-Sulaimani, Director General of Projects for the Public Authority for Electricity and Water-Oman, stated that Oman relies on the sea for 80 percent of its population’s drinking water. During the next four years, Oman plans to invest in 200 MW of renewable energy projects.

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After being told that Dexia’s credit rating would be downgraded by credit rating agency Moody’s, on October 3, 2011, the bank’s shares dropped sharply. By the end of trading that day, one share was approximately one euro ($1.32), the lowest level the bank has ever seen. The situation did not improve the next day: at one point, shares dropped by as much as 40 percent.

Trading was suspended on October 6. It will resume trading on October 10. On Tuesday, October 4, the bank’s board met in an emergency meeting to discuss solutions to the problem. At a press conference after the meeting, caretaker Prime Minister Yves Leterme of Belgium said that the Belgian and French governments will each have a hand in propping up the bank.

“We are giving a new government guarantee and will take all the initiatives necessary for Dexia Belgium to consolidate. We still believe it has a future,” he said.At the meeting, a plan was formulated. First, Dexia would set up a “bad bank” fund where its troubled assets would go.

Second, the French municipal loan book would be given to La Banque Postale, a French bank, and Caisse des Depots et Consignations, a French financial institution. Last, Dexia would be split up, and would seek buyers for its healthy assets. Discussions for options about the split up of Dexia continued throughout the weekend.

This is the not the first time Dexia has needed government assistance. In late 2008, Dexia was bailed out by the Belgian and French governments and its shareholders. Belgium and France invested 6.4 billion euros into the bank. Each country owns 5.7 percent of the bank, while three Belgian regional authorities own a combined 5.7 percent of the bank.

Some bankers outside of France and Belgium are concerned about the split up of Dexia. “The government has to reach a deal this weekend, or we’ll see trouble on the interbank market next week,” said Michael Rohr, a banking analyst with Silvia Quandt Research GmbH in Frankfurt, Germany.

Some inside France are concerned about how the split up will affect France’s credit rating. According to French economist Jacques Delpla, the split will not harm the country’s credit rating “Rating agencies judge the sustainability of a country’s debt. This would be a one-off investment that could yield big profits, so even if France spends a huge amount recapitalizing the entire bank system, it should not affect its rating,” he said.

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