Center for Global Development

The Center for Global Development is an independent, nonpartisan think tank based in Washington D.C. and London. CGD works to reduce global poverty and improve lives through innovative economic research that drives better policy and practice by the world's top decision makers. Over the next two years, CGD will be conducting rigorous research and proposing practical solutions to drive broader mandates, better governance, and modern business models at the multilateral development banks.

Recent Posts

The World Bank Should Harness Evidence to Deliver Greater Impact

June 5, 2023

Introduction At a recent CGD event, new World Bank president Ajay Banga called for the institution to deepen its role as a knowledge bank. In his words, “we won’t win the fight ahead of us without taking some risks. The trick is: don’t make the same mistake twice.” We were pleased to hear this commitment to knowledge generation and use as core to the World Bank’s mission. Simply put, the World Bank cannot enhance its impact, much less lead global development policy, without systematic measurement and evaluation—and knowing what works [...]

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MDBs in the News: Week of June 5, 2023

June 5, 2023

Each week, we'll publish a short round-up of news about multilateral development banks, to keep you in the loop about important updates on the reform agenda. Ajay Banga faces great expectations as he takes helm of World BankShabtai Gold, Devex "On Friday, Banga takes over the largest global anti-poverty lender — which across its five wings last year did $114 billion in loans, investments, grants, and guarantees — as it’s in the midst of a potentially radical transformation. Debates rage about the trajectory of its ongoing reform process and whether the [...]

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IDA’s New Fundraising Campaign: An Early Test for World Bank President Banga

June 1, 2023

Last month, the World Bank announced its intention to mobilize $12 billion for a new Crisis Facility for IDA, the arm of the bank that provides concessional lending and grants to the poorest countries.  The Crisis Facility will augment emergency funding for IDA’s most vulnerable borrowers and provide new resources for Ukraine and Moldova. Shareholders will be asked to pledge to the new facility by December 2023, shortly before the start of the next IDA replenishment in early 2024. The proposal reflects a compromise with donors who objected to an accelerated fundraising [...]

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Testimony on International Financial Institutions in an Era of Great Power Competition

May 25, 2023

On May 25, 2023, CGD Distinguished Non-Resident Fellow Daouda Sembene appeared before the Security, Illicit Finance, and International Financial Institutions Subcommittee of the House Financial Services Committee at a hearing titled “International Financial Institutions in an Era of Great Power Competition.”

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