In the face of multiple crises, the availability of development finance for developing countries is declining, even as their financing needs to achieve the Sustainable Development Goals are increasing. The Pact for the Future has recently called for eligible countries to channel half of their 2021 allocations of Special Drawing Rights (SDRs) at the International Monetary Fund (IMF) to developing economies, including through multilateral development banks (MDBs). (mehr …)
Enhancing the role of Multilateral Development Banks (MDBs) in sustainable global economic development has been an important issue for G20 leaders since their first meeting in 2008. For leaders, the primary purpose of revitalizing the MDBs was to counter the cyclical effects of the crisis. As the subprime crisis receded, the focus of leaders and the overall G20 agenda since 2010 has shifted towards growth, for which infrastructure financing has been highlighted as a key driver.