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In April, a group of multilateral development banks signed an agreement to work more closely together, known as a viewpoint note, which set a series of goals, including scaling up their financing capacity, and delivering more on climate.
Earlier this week, at the U.N. General Assembly, the heads of MDBs sat down with U.N. leaders to identify how they could make more progress to deliver those goals. Devex heard from Ilan Goldfajn, president of the Inter-American Development Bank, about the steps taken so far.
Goldfajn said there had been considerable progress in unifying the goals of the MDBs with the Group of 20 major economies and with U.N. agencies.
MDBs have increased lending capacity by $400 billion over the next 10 years, mostly through reforms but partly due to closer working, Goldfajn explained. He added that last year, the banks had lent a quarter more on climate and doubled the amount of finance mobilized, compared to 2022.
He also highlighted several projects where IDB had worked together with the World Bank and the EIB.
Devex Senior Reporter Adva Saldinger sat down with Goldfajn for a special episode of our This Week in Global Development podcast series.
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About the authors
Adva Saldinger@AdvaSal
Adva Saldinger is a Senior Reporter at Devex where she covers development finance, as well as U.S. foreign aid policy. Adva explores the role the private sector and private capital play in development and authors the weekly Devex Invested newsletter bringing the latest news on the role of business and finance in addressing global challenges. A journalist with more than 10 years of experience, she has worked at several newspapers in the U.S. and lived in both Ghana and South Africa.
David Ainsworth@daveainsworth4
David Ainsworth is business editor at Devex, where he writes about finance and funding issues for development institutions. He was previously a senior writer and editor for magazines specializing in nonprofits in the U.K. and worked as a policy and communications specialist in the nonprofit sector for a number of years. His team specializes in understanding reports and data and what it teaches us about how development functions.
