The world is facing many challenges, including a significant increase in conflicts, the effects of climate change, increased disasters, and significant biodiversity loss. It is for these reasons that the World Bank has chosen water as one of its foremost priorities to address through a new Global Challenge Program. Turning these global public "bads" into "goods" requires new thinking and types of engagement, with new action in transboundary water at the fore. As around half of the world’s water is transboundary, cooperation is necessary to achieve development, climate resilience, and increased peace and stability. In response to this, and the calls for improved mechanisms to support transboundary cooperation during the UN 2023 Water Conference, the World Bank and its partners have established a new Global Facility for Transboundary Water Cooperation. The goal of the Facility is to make relevant expertise and knowledge available to countries and their joint organizations, to inform and support the joint management of transboundary water resources. In this talk show, participants will reflect on the extent of current challenges related to transboundary water, and the new ways the World Bank and its partners are changing their offerings to countries to support improved transboundary cooperation.