WASHINGTON — The Inter-American Development Bank (IDB) and the International Water Association (IWA) have jointly developed AquaRating, according to a press release.

AquaRating offers a “comprehensive, impartial and credible evaluation” of utilities’ best management practices and performance, stated the release.

The rating system “fills a gap in the market by establishing the international standard for assessing water and sanitation services provision,” continued the release.

The release reported that AquaRating assesses sanitation and water services providers according to three dimensions: Best practices, performance indicators and information quality.

Giving a detailed evaluation of 112 elements across eight main areas, AquaRating validates information through an independent auditing process, boosting transparency and accountability, and the system sets the “baseline for utilities to monitor their performance and plan for improvements,” added the release.

“AquaRating gives water and sanitation services providers a roadmap to anticipate future challenges,” said Sergio Campos, Water and Sanitation Division chief at IDB. “The rating system allows for better planning and decision-making processes for the utilities’ management to achieve sustainable and efficient outcomes. AquaRating helps water and sanitation services providers become more resilient. Empowering water and sanitation utilities is a crucial step towards ensuring water and sanitation for all.”

A worldwide market introduction for AquaRating is planned for 2015, and the system has already been piloted in 13 utilities in nine countries within the Caribbean, Europe and Latin America, noted the release.

Read the entire release here.