Senator Paul Simon Water for the World Act of 2014

(Sec. 4) Directs the Administrator of the U.S. Agency for International Development (USAID), or the Administrator's designee, to serve concurrently as the USAID Global Water Coordinator, and to:

oversee USAID water, sanitation, and hygiene programs;

lead the implementation and revision, at least once every five years, of USAID's portion of the Global Water Strategy; and

expand USAID's program capacity in high priority countries.

Directs the Secretary of State, or the Secretary's designee, to serve concurrently as the Department of State Special Advisor for Water Resources, and serve similar functions in the Department of State as the Global Water Coordinator does in USAID.

(Sec. 5) Directs the Administrator to ensure that USAID projects and programs are designed to achieve maximum impact and long-term sustainability by prioritizing countries based upon:

the population using unimproved drinking water or sanitation sources;

the number of children younger than five years of age who died from diarrheal disease; and

the government's capacity and commitment to work with the United States to improve access to safe water, sanitation, and hygiene.

Directs the President to: (1) designate by October 1, 2015, at least 10 countries as high priority countries to be the primary recipients of U.S. government assistance under this Act during FY2016, and notify Congress of such designations; and (2) make new designations each year.

(Sec. 6) Directs the President, not later than October 1, 2017, October 1, 2022, and October 1, 2027, through the Secretary, the Administrator, and the heads of other federal departments and agencies, to submit a single government-wide Global Water Strategy to Congress that describes how the United States intends to:

increase access to safe water, sanitation, and hygiene in high priority countries;

improve the management of water resources and watersheds in such countries; and

work to prevent and resolve intra- and trans-boundary conflicts over water resources in such countries.

Requires: (1) the Global Water Strategy to include plans by USAID and the Department on how each entity carries out its responsibilities under this Act, and (2) the Administrator to develop for each high priority country a plan to increase access to safe water, sanitation, and hygiene.