The world is facing interconnected crises, with profound impacts on people and planet. Multilateral development banks (MDBs) must collaborate more effectively to deliver solutions with greater positive impact and scale.
The Group of Heads of Multilateral Development Banks fosters dialogue and coordination among the leaders of major development banks; enhancing their collective effectiveness and coordinated support to clients in the public and private sectors. The IDB currently holds the rotating chair of the Group.
The ultimate goal is, to evolve into a better, bigger, and more effective Multilateral Development Bank system, aligned with the G-20 leaders’ call for action.
Deeper Collaboration, Collective Ambition
We are jointly establishing country and co-financing platforms to make it easier for countries to work with MDBs. The platforms will reduce costs, facilitate coordination among stakeholders, and accelerate progress on shared challenges, such as climate change and poverty reduction.
We are working to maximize our own resources. Together, we expect our efforts to yield additional lending of up to $400 billion over the next decade. We’re working to increase this amount, while using innovative instruments to mobilize more resources from the private sector.
We are sharpening our collective focus on the impact of our work, prioritizing tangible results over amounts lent. We are sharing approaches to monitoring and assessing impact and pursuing harmonization initiatives.
Learn about Multilateral Development Banks leaders’ latest commitments and goals.
