The Budapest Water Summit was initiated by the Hungarian Government at the United Nations Conference for Sustainable Development with the principal objective to take stock of the various developments in preparing the water related goal for the post 2015 development agenda.

Participants at this world-wide conference included high-level representatives from government, international organizations, civil society and academia.

The chairman of the Prince Sultan bin Abdulaziz International Prize for Water, Prince Khaled bin Sultan bin Abdulaziz, was one of the keynote speakers who addressed the plenary session on the stage of the Millenaris Cultural Center in Budapest on 8 October 2013. He shared the floor with Hungarian president Mr János Ader; H.E. Mr Ban Ki-moon, Secretary General of the United Nations; Ms Irina Bokova, Director General of UNESCO; H.R.H. Prince El Hassan bin Talal of Jordan, Chairman of UNSGAB ; and Mr Benedito Braga, President of the World Water Council.

At his plenary session speech, HRH Prince Khaled stressed the need for sound global water governance, adding that "its most important features are: integrated planning, the active participation of all parties, a just legal framework that regulates all parties, transparency, responsiveness, promptness in implementing decisions, equality and inclusiveness, efficiency and effectiveness, oversight and accountability, and finally – and most importantly – to stay focused on the alleviation of poverty."

bwsLuncheonPSIPW was also one of three organizations to hold high-level meetings at the Summit, along with the World Water Council (WWC) and the United Nations Secretary General's Advisory Board on Water and Sanitation (UNSGAB). These meetings took place on 8 October 2013 at the Hungarian Academy of Sciences. Afterwards, PSIPW hosted a luncheon for the delegates of all three organizations as well as a number of high-level officials from the Hungarian Water Sector. Hungary's Minister of State for Foreign Affairs, Zsolt Németh, spoke at the luncheon, as well as the Chairman of the Hungarian Academy of Sciences József Pálinkás.