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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