As the world faces unprecedented global crises, multilateral development banks have announced plans to increase their impact and scale for clients. This includes the World Bank’s commitment to address issues such as climate change, with countries pledging $11 billion towards this effort.
Leaders from 10 multilateral development banks have come together to strengthen collaboration at the conclusion of the IMF and World Bank’s spring meetings. Their goal is to boost joint action on climate change, mobilize more private capital, and improve the measurement of impact to accelerate progress towards the sustainable development goals.
In a statement, the MDBs expressed their commitment to evolving into a larger, more effective platform both individually and collectively. They are focused on enhancing their efforts to better serve their clients and address key global challenges.
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