As the World Bank and International Monetary Fund hold their annual meetings in Marrakech this week, the role of multilateral development banks (MDBs) is coming under increasing scrutiny. US treasury secretary Janet Yellen is set to give a speech on how to increase such lenders’ effectiveness and impact on Tuesday, October 10.
The strengthening of the mandate of MDBs such as the World Bank has been one of the key priorities for India’s presidency of the G20, set to expire at the end of November. India has warned that in their task of supporting economic and social progress in developing countries, MDBs have not sufficiently scaled up investments to meet contemporary development and sustainability challenges.
