On Sunday 21 April, 10 multilateral development banks (MDBs), including the EIB and the EBRD, announced measures to create synergies between them and increase the impact of their actions in the field of development, as part of work led by the Brazilian Presidency of the G20.
In a note that will contribute to the development of a future roadmap specifically for the G20 countries, the heads of these multilateral development banks identify five areas for action: (1) increasing the financing capacity of MDBs (additional lending capacity estimated at more than US$300 billion over the next decade) through a diversified range of financial instruments; (2) strengthening the fight against climate change by presenting a common approach to measuring the results of climate adaptation and mitigation actions and by improving early warning systems for natural disasters; (3) strengthening collaboration and co-financing within national financing platforms; (4) catalysing the mobilisation of the private sector through innovative financial approaches and instruments, local currency lending and currency risk hedging solutions; (5) improving the impact of development actions through better impact assessments and evaluation of nature and biodiversity key performance indicators (KPIs).
See the note from the 10 multilateral development banks: https://aeur.eu/f/bw6 (Original version in French by Mathieu Bion)