Between 2015 and 2018, severe drought threatened the water security of Cape Town’s 4 million people and exacerbated the divide between rich and poor. One cost effective way to reduce the water crisis is to restore the ecological health of Cape Town’s supply watersheds - a restoration project that would generate 50 billion litres of water gains per year corresponding to a sixth of Cape Town’s supply needs. Water Unite will support its partner The Nature Conservancy (TNC) to define a blended financing strategy to raise the necessary investments, estimated at USD 25 million, to establish the Greater Cape Town Water Fund - a water governance structure - and ensure its sustainability.  In particular, the strategy will explore potential long-term municipal funding (from issuing bonds to raising water services fees) and identify investable opportunities for development and commercial banks.