MDB reforms off the block

Driven by the G20 declaration, transformative changes have begun at multilateral banks

The G20 Delhi Summit’s call to the multilateral development banks (MDBs) to adopt a reform pathway to emerge as better, bigger, and more effective MDBs to address “global challenges to maximise developmental impact” appears to be bearing fruit. The call was for significantly improving their ability to provide climate finance from their own resources and mobilise finance from other financial institutions.

In its recent Global Financial Stability Report (GSFR), the International Monetary Fund stated that to achieve net-zero greenhouse gas emissions by 2050, global gross climate mitigation investment will need to reach approximately $5 trillion annually by 2030. According to