Document endorsed by the Heads of the following Multilateral Development Banks: 

African Development Bank (AfDB); Asian Development Bank (ADB); Asian Infrastructure Investment Bank (AIIB); Council of Europe Development Bank (CEB); European Bank for Reconstruction and Development (EBRD); European Investment Bank (EIB); Inter-American Development Bank (IDB); Islamic Development Bank (IsDB); New Development Bank (NDB); World Bank Group (WBG)

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Washington, D.C., April 20th, 2024

I. Introduction

The world faces multiple interrelated crises that disproportionally set back development prospects for poor and vulnerable countries, communities, and people. We are at an inflection point for development. Challenges are growing in our fight against poverty and hunger, inequality, an existential climate crisis, severe biodiversity loss, skills and gender gaps, coupled with rising debt levels and heightened fragility and conflict. As a result, at the midpoint of the 2030 Agenda, progress towards the Sustainable Development Goals (SDGs) in most developing countries has been slow. The window of opportunity to secure an inclusive and sustainable future requires a renewed sense of urgency and determination.

As Multilateral Development Banks (MDBs), we are committed to strengthening our collaboration and improving how we work as a system to deliver greater impact and scale for the benefit of our clients. The Group of Heads of MDBs (“Heads”) is an informal forum for dialogue and coordination among the leaders of major MDBs. We are building on our well-established cooperation, working closely together in multiple areas, and regularly engaging through expert working groups to share knowledge and collaborate on initiatives. Yet we aim to go beyond business-as-usual to improve how we operate and provide coordinated support to our clients, both public and private, and deliver on regional and global public goods.

Consistent with the call from G20 Leaders and driven by the ambition of our clients and shareholders, we are enhancing our efforts to evolve, individually and collectively, into a “better, bigger and more effective” MDB system. This Viewpoint Note reports on the progress made on our commitments under the Marrakesh MDB Joint Statement in October 2023, and presents key deliverables for joint and coordinated actions for 2024 and beyond, taking into consideration the specific mandates, governance structures, and reform initiatives of each MDB. It also provides inputs into the discussions on MDBs under the G20 Brazilian Presidency and other global policy fora.

In 2024, we are deepening our engagement and developing an agenda focused on achieving greater impact and scale in addressing development, climate, and other regional and global challenges. Heads are undertaking more frequent strategic discussions and taking advantage of the synergies with the G20. Building on recent meetings in Dubai and São Paulo, our key priorities are to enhance our agility and efficiency working as a system, and to deliver concrete results on five areas: 1. Scaling-up MDB financing capacity; 2. Boosting joint action on climate; 3. Strengthening country-level collaboration and co-financing; 4. Catalyzing private sector mobilization; and 5. Enhancing development effectiveness and impact. Deliverables in each area are being implemented by cross-MDB working groups.

We agree to act on joint initiatives to improve development outcomes when there is a clear value added for our clients and shareholders, in line with our respective mandates, areas of comparative advantage and governance frameworks. We will be selective and strategic about when and how we work together considering initiatives that generate significant value for our clients, provide more comprehensive and larger scale packages of support that address regional and global challenges, and tackle coordination bottlenecks. We will continue to work in flexible partnerships that best reflect the various regions, issues, and unique comparative advantages such as business model, client proximity and expertise. This means that not all MDBs may be able or are expected to participate in all the proposed joint areas of work. Moreover, the document does not cover an exhaustive list of everything MDBs are doing together, but a prioritized selection.

Read the full Viewpoint Note here

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