Multilateral development banks have announced plans to deliver “greater impact and scale” for clients as countries pledge $11bn to increase the World Bank’s capacity to respond to global crises, including climate change.
At the culmination of the IMF and World Bank’s spring meetings on Saturday, the leaders of 10 multilateral development banks committed to strengthening collaboration, boosting joint action on climate change, mobilising more private capital and better measuring impact to accelerate progress toward the sustainable development goals. “We are enhancing our efforts to evolve, individually and collectively, into a bigger, better, and more effective MDB platform,” the MDBs said in a statement.
