Strengthening Multilateral Development Banks: Towards a Triple Agenda
Abstract
Given the immense global challenges of the 21st century, the case for MDB reform is clear and undisputed. Drastic, speedy, collaborative action is the need of the hour. This essay has outlined a triple mandate and four categories of measures that MDBs must adopt. To ensure accountability, it has also provided a timeline for implementing these different interventions. However, this is just the first step in initiating broader MDB reform; implementing these measures will require conviction and commitment from MDBs and the institutions that support MDB decision making. This represents the start of a multi-year process of making MDBs relevant again for the 21st-century world.
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The Centre for Social and Economic Progress (CSEP) is an independent, public policy think tank with a mandate to conduct research and analysis on critical issues facing India and the world and help shape policies that advance sustainable growth and development.