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The multilateral development banking (MDB) system is regarded as having been remarkably successful—but is the model still fit for purpose? How can MDBs remain relevant in a changed world and tackle this century’s greatest challenges, including climate change, pandemic response, humanitarian crises, and more?
Senior Fellow, Director of the US Development Policy Initiative
In a previous CGD Podcast, Summers explained how the recommendations in the report can help the MDBs come together to address transnational problems. For this week, I sat down with the co-directors of the High Level Panel, CGD president Nancy Birdsall and senior fellow Scott Morris, to delve further into what those recommendations are and how they can make MDBs more effective.
Watch the clip below to learn why MDBs are so important to borrowing countries, and listen to the full podcast at the top of this page.
With Jim Kim’s abrupt departure from the World Bank, there has been a swirl of commentary on questions of legacy, the best of which aim to answer the question, “how is the bank doing?” For large multilateral institutions like the World Bank, that’s a frustratingly difficult question to answer. Seemingly objective measures like volume of financing or sectoral targets are simplistic and bring their own value judgements about what the institution should be doing. Annual reports give us a narrative about institutional performance, but a heavily biased one.