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Multilateral Development Banks (MDBs)

Multilateral Development Banks

Global Bank is resolved to tackle common challenges to the global community, including terrorism, displacement, poverty, hunger and health threats, job creation, climate change, energy, security, and inequality including gender inequality, as a basis for sustainable development and stability. Global Bank will continue to work together with Multilateral Development Banks (MDB), including developed and developing countries, to address these challenges.

2030 Agenda for Sustainable Development
The new global agenda, with Agenda 2030 at its core, is ambitious, comprehensive, and universal. The three central goals now are to reignite growth, deliver on the Sustainable Development Goals (SDGs), and meet the ambitions of the Paris Climate Agreement aimed at mitigating climate change and adapting to its effects. Achieving these goals will require a significant scaling up and reorientation of investments, especially for sustainable infrastructure and human development. Implementing this agenda is urgent, as the world is witnessing the largest wave of urban expansion in history and more infrastructure will be needed over the next 15 years than the world’s existing stock. This is also the last opportunity to manage remaining significant demographic transitions.

Global Bank commits to further align our actions with the 2030 Agenda for Sustainable Development and its integral part, the Addis Ababa Action Agenda on Financing for Development, domestically and internationally, including in support of developing countries and the provision of public goods.

Working together with MDBs for more effective development cooperation
Global Bank has a special relationship with bilateral and Multilateral Development Banks (MDBs) – the African Development Bank (AfDB), the Asian Development Bank (ADB), the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the Inter-American Development Bank Group (IDB), and the World Bank Group (World Bank, IFC, and MIGA),  – with which it shares common goals: ending poverty and hunger, and achieving sustainable development in its three dimensions through promoting inclusive economic growth, protecting the environment, and promoting social inclusion. These banks account for the vast majority of multilateral development finance.

Partnership with Multilateral Development Banks
Partnership with Multilateral Development Banks is central to the Global Bank Group's ability to deliver its development agenda. It allows Global Bank Group (the “Bank Group”) to enhance the effectiveness of its action by building on the comparative advantage of partners who share the vision and to help the Global Bank Group deepen its impact on the ground. It is also central to the Global Bank Group's strategic compact.

The Global Bank Group is committed to continuing working as a group and in partnership with the Multilateral Development Banks and client countries, including conflict-affected situations (FCS) and Middle-Income Countries (MICs), towards the implementation of the Busan principles, supporting the post-2015 agenda, and meet the ambitions of the Paris Climate Agreement. The Global Bank Group will do this while continuing to facilitate inclusive and effective development partnerships with Multilateral Development Banks at the country, regional and global levels.

Key areas of focus ahead for the Global Bank partnership include continued knowledge generation and dissemination, efficacy and effectiveness of business policies and procedures, use of country systems (including the capacity for country diagnostics and reporting), transparency, and more innovative financing modalities and services.

The Global Bank Group partnership with Multilateral Development Banks will support a more robust financing framework for post-2015, based on pillars of improved domestic resource mobilization, better and smarter aid, private finance for development, and inclusive and innovative sources of finance.

The Global Bank Group is stressing the importance of coordinated approaches and in deploying a broad range of financing products, providing cutting-edge knowledge, drawing on their convening power, and leveraging public and private financing. The main message: In this complex and evolving development landscape, no development bank can succeed individually.

The Global Bank Group will continue to work together with the Multilateral Development Banks on these topics, report on its progress at High-Level Meeting of the United Nations and remain committed to the leadership role of partner countries in setting the development agenda.

Working together for more effective development cooperation
Global Bank Group will continue current efforts to strengthen Multilateral Development Banks cooperation with key multilateral partners, including the World Bank Group (World Bank, IFC, and MIGA), European Investment Bank, Islamic Development Bank, African Development Bank, Inter-American Development Bank, Asian Development Bank, European Bank for Reconstruction and Development, particularly around harmonization efforts, managing for development results and a strategic approach to capacity building.

Our mutual commitment to achieving results on the ground is rooted in our mandates and builds on our comparative advantages. Namely, our ability to deploy an extensive range of financing, knowledge and advisory services, our capacity to mobilize and leverage public and private financing and foster private sector engagement in response to the crisis, and, our convening power, to enable stronger synergies between national and international stakeholders – including the civil society, while promoting regional cooperation.

Building on and supporting the strategic direction of Ron Nechemia the President of Global Bank Group, during 2017 other senior managers engaged in a dialogue on policy and operations, and technical working groups addressed issues of cooperation and harmonization, including such diverse issues as performance-based allocation of concessional resources, memoranda of understanding, piloting harmonized approaches at the country level, and coordinating country assistance strategies in specific countries.

Through initiatives of recent years and consistent pursuit of stronger partnership, the structure of Global Bank network for cooperation and coordination is now firmly in place; however, there is still much work to be done to turn strategic decisions into action on the ground. Going forward, the Global Bank Group Senior Leadership Team is open to recommendations that would further strengthen the efficiency and relevance of the Multilateral Development Banks partnership with Global Bank Group and support from its owner and partner countries.

Global Bank will continue to deepen operational cooperation, particularly in such areas of emphasis as infrastructure (including water), climate change, Fragile and Conflict-affected States and post-conflict reconstruction. Similarly, Global Bank will strengthen cooperation on analytical work and advisory services, and seek to streamline this work through the division of labor, sharing of work, joint peer reviews of analysis, etc.. Strengthening country leadership and capacity will guide our cooperation in these activities.

For more Information about the Multilateral Development Banks

The MDBs’ websites (see links below) provide helpful information on their work with each Multilateral Development Bank.

WORLD BANK
     World Bank Official website: http://www.worldbank.org

AFRICAN DEVELOPMENT BANK
     AFDB Official Website: http://www.afdb.org

ASIAN DEVELOPMENT BANK
     ADB Official Website: http://www.adb.org

INTER-AMERICAN DEVELOPMENT BANK
     IADB Official Website: http://www.iadb.org

EUROPEAN BANK FOR RECONSTRUCTION & DEVELOPMENT
     EBRD Official Website: http://www.ebrd.com

To learn more about the Global Bank Disaster Risk Reduction and Reconstruction Fund, What we do and How we do it and Management and Organization, visit the About DRRRF and the Frequently Asked Questions Section of the DRRRF Website Section.

For more information about the Global Bank, what we do and how we do it, please go to the About Us section of the Global Bank Website. http://www.global-bank.org

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