The joint statement issued during the October IMF meetings in Marrakech from nine multilateral development banks (MDBs) declaring their intention for increased collaboration was the first of its kind. It was a response to calls from client countries for MDBs to reduce their administrative complexity and speed up disbursement.
But while collaboration is both welcome and vital — the World Bank estimates there is the potential to achieve sizeable efficiencies and secure $300–400bn in additional lending capacity — it is not enough.
