The world faces interconnected crises that profoundly impact people and the planet. These challenges are just too big for any single country or institution to tackle alone.
Multilateral Development Banks (MDBs) are evolving, individually and collectively, to respond to these challenges and improve people’s lives by becoming a bigger, better and more effective MDB system.
The Heads of the Group of MDBs is a forum for dialogue and coordination among the leaders of major MDBs. In 2024, the Inter-American Development Bank (IDB) holds the rotating chair of the Group.
Deeper Collaboration, Collective Ambition
Multilateral Development Banks (MDBs) build bridges to involve more actors and mobilize resources from both the public and private sectors, aligned with the G20 framework for sustainable and inclusive development. MDBs remain committed to scaling efforts to create lasting impact in the countries they serve.
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.
Multilateral Development Banks leaders’ latest commitments and goals.
In April, the Heads of MDBs published a joint Viewpoint Note, committing to concrete actions in key priority areas. Expert Working Groups within these institutions are already delivering results and will continue their collaborative efforts throughout 2024 and beyond.
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