This report aims to introduce a novel way of positioning water as an engine for growth and equity by highlighting the deep associations between water and inclusive growth. The report will identify risks and opportunities within the global water sector that affect shared prosperity to promote more active international dialogue on water challenges and solutions. To that end, it will synthesize existing evidence and generate new empirical evidence based on the most recent data available on the intricate interplay between water and shared prosperity. The report will also discuss the policy implications to underscore the need for comprehensive governance frameworks, investment strategies, technology and innovation, and community engagement to achieve shared prosperity through sustainable water management. This is a joint publication of the Government of Indonesia and the World Bank