Executive summary 2

1. A region under compounding pressure and a demand curve that is changing shape 3

2. Data centers and water: The technical picture 6

3. Infrastructure gaps: Aging networks, a desalination dependency, and an underused reuse opportunity 8

4. Case studies from across the basin: Four models for closing the gap 10

5. Financing the gap: From sovereign balance sheets to blended finance and PPPs 12

6. Next-generation infrastructure: Technology as a tool for de-risking, not a substitute for reform 14

7. Relevance to COP31: Water infrastructure as climate finance and adaptation policy 15

8. Policy recommendations 16

Conclusion: From COP31 to delivery 18