July 19, 2023
Radically reformed and strengthened MDBs are essential to address the immense global challenges in today’s world. The welfare of billions of people and the health of the planet, the foremost example of a global public good (GPG), are under threat. To make matters worse, the problems are getting bigger; the SDGs are badly off track, with over 600 million people still living in extreme poverty, and there is an intense urgency to address problems of climate change and nature conservation and protection in
MDBs have a key role to support the needed reforms and resources. They work with governments and the private sector to create the conditions for investment and transformation. They are the most effective institutions to provide low-cost, long maturity financing, to mitigate risks faced by private investors, and to share risks in the most efficient way. They have a wealth of knowledge and experience in partnering with clients to achieve effective development solutions, and they combine affordable long-term finance,
technical support, and policy advice in a unique way to deliver sustainable results. In an increasingly fractured world, they have a history of bringing together diverse nations to not just discuss but to act in support of a shared agenda of transformative growth.
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