A unified document that encapsulates the complex narrative of regional water security is lacking. The Europe and Central Asia Water Security Initiative was launched, and a comprehensive assessment was undertaken to illuminate the various challenges and opportunities that lie on the path to achieving water security and catalyze a much-needed holistic dialogue across disparate sectors and institutions. The escalating threats posed by climate change underscore the urgency of this endeavour. By enhancing our understanding of the region’s prevailing situation, more cohesive, strategic, and adaptive responses can be forged, and as feasible, the adverse impacts of climate change can be mitigated. Addressing the pressing constraints in governance, infrastructure, and funding is pivotal for advancing the region’s Sustainable Development Goals (SDGs). Central to this advancement is the management of water related risks, which is integral to effective climate-change adaptation and mitigation strategies aimed at diminishing vulnerabilities and fortifying resilience across the region. To navigate these challenges and secure a water-resilient future, fostering robust collaborations among regional stakeholders, water practitioners, and policy makers is fundamental.