“At the release of the OECD’s Meeting the Water Reform Challenge, OECD Secretary-General, Angel Gurría warned: “Without major policy changes, we risk high costs to economic growth, human health, and the environment. But with sustainable financing, effective governance and coherent policies,governments can harness water’s potential. Economic instruments like tariffs, taxes and transfers – the 3Ts – are powerful tools to ensure an efficient use of water.” The report highlights the challenges posed by increasingly rapid urbanisation, population growth and changing economic dynamics for managing water supply. With water demand projected to increase by 55% by 2050, there will be increased competition for it. By that time, 3.9 billion people – more than 40% of the world’s population – are likely to be living in river basins facing severe water stress.”