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

Funding Hybrid Capital at the AfDB is the Best Deal for SDR Donors

March 9, 2023

Many advanced-economy countries are looking for ways to recycle their excess Special Drawing Rights (SDRs) to support more vulnerable countries whose economies are being buffeted by the economic aftermath of the COVID-19 pandemic and the Russian invasion of Ukraine. The G20 has pledged $100 billion of SDR recycling—much of that is going to the IMF, but about $40 billion has yet to find a destination. A new proposal by the African Development Bank (AfDB) gives donors an excellent opportunity to recycle their SDRs, potentially having a much more significant impact [...]

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If You Want Clients to Borrow from the World Bank for Net Zero Investments, Make It Easier

March 9, 2023

High-income countries trying to reach net-zero targets are confronting the fact that existing environmental regulations make it harder to build low-carbon infrastructure. Lobbying groups in the US, for example, are using regulatory tools to block geothermal, solar, and wind facilities. Providing subsidies and incentives for low carbon isn’t enough: revisiting, rewriting, and in some cases retiring these regulations is going to be a vital part of faster progress toward the green economy. The issue isn’t unique to high-income countries, and it is perhaps particularly important when it comes to climate [...]

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The World Bank Must ‘Walk the Talk’ on Gender Equality

March 3, 2023

Through the World Bank’s history and thirteen presidencies, not once has the institution been led by a woman.   Last week, the Biden administration nominated Ajay Banga, former head of Mastercard, as a candidate to be the next World Bank president. I welcome President Biden’s choice, because Banga is an exciting and well-qualified candidate. As with any nominee, I hope the Bank’s shareholders will consider his full set of qualifications, background, and approach to development issues. Should he be elected, I look forward to continuing to work with staff under [...]

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Yes, MDB Shareholders Can Act Now: Six Very Feasible Near-Term Decisions

March 1, 2023

Spurred by the polycrisis and explicit calls from shareholders and other stakeholders, multilateral development banks (MDBs) are considering reforms that will give them the capacity to address country and global challenges, as Secretary Yellen recently put it, “with the urgency and scale that is required.” The World Bank is in the most visible position as it works on its evolution roadmap. But change is needed across the MDB system to enable these institutions to play a more effective and a much bigger role in helping the world meet these challenges. [...]

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