Multilateral development banks—the World Bank and a dozen regional and sub-regional MDBs—have led the global development agenda for decades, providing financing and knowledge services to support economic growth and improved living standards. In recent years, however, the global economic and political panorama has shifted, putting pressure on MDBs to adapt or lose relevance.
This research project seeks to understand i) what pressures MDBs are facing, ii) how different MDBs are reacting to those pressures and iii) what further reforms are needed.
Specific themes addressed within this broad research agenda include:
- Borrower country views on the relative advantages of different MDBs
- The workings of the MDB financial model and the use of innovative financing approaches
- The critical importance of governance in shaping MDB policies and activities
- The creation of new MDBs, such as the Asian Infrastructure Investment Bank and BRICS New Development Bank
The MDB model is uniquely well-suited to help coordinate responses to development challenges, such as rising economic inequality and climate change. But some MDBs have been slow to adapt to new global realities. This project is intended to provide inputs to academic research on development as well as to policy makers seeking to improve the effectiveness of MDBs.
Contact: Chris Humphrey