1) Benefit sharing mechanisms (BSMs) are important for equitable water management between different users and sectors. The CGIAR Challenge Program on Water and Food's experience in 10 river basins provides lessons on BSMs. 2) In the Mekong River Basin, balancing hydropower and fisheries through BSMs like improved irrigation techniques can generate win-win outcomes for energy production and food security. 3) In the Volta River Basin, research found that losses from small reservoirs are smaller than assumed, so developing more small reservoirs could significantly benefit smallholders with minimal water impacts.