Weather extremes, intensified by climate change, can lead increased frequency of hydrological hazards. Among these hazards, drought and inland excess water inundation have the largest areal coverage and also the greatest regular impact on the agro-economic potential and sustainable development of the Hungary-Serbia border region. In spite of several earlier initiatives, the estimation and mitigation of related risks has not reached an operative level yet. Since the aforementioned challenges are of regional character and affect both South-East Hungary and Vojvodina, Serbia, equally, solutions call for a joint action. The project primarily aims at the development of innovative and harmonized monitoring solutions and water management operational plans to facilitate early warning and raise outputs to an operative level. The capitalization and multiplier effect of the project results is guaranteed by the establishment of a joint HUSRB-CB Drought and Excess Water Research and Monitoring Centre, responsible for further R&D, implementation of new monitoring techniques to water management and agriculture, communication and networking. Project outcomes will highly contribute to the development of cross-border water management and risk prevention systems, to the improvement of the ecological and quantitative status of water bodies and to the minimization of drought and inland excess water inundation risks. Moreover, the results will also support the sustainable development and climate resilience of strategic sectors and the entire border region as well. The project is developed and implemented by the most important sectorial research centers of the region (SZTE, UNSPMF and UNSFA) in co-operation with the relevant water management authorities of both countries (ATIVIZIG and PWMC Vode Vojvodine). The expertise and experience of the partners in the project/Beneficiaries secure the successful elaboration of outlined outcomes, and the professional management and execution of scientific, operative and communicational tasks.