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More Than $1 Trillion in MDB Firepower Exists as We Approach a COVID-19 “Break the Glass” Moment

In retrospect, the scale up in MDB financing during the 2008-2010 crisis, though significant, now looks conservative as we consider the potential scale of damage from the current COVID-19 pandemic. To put the question bluntly, if the human and economic devastation follows a worst-case scenario, just how much could the MDBs do to respond? We attempt to answer that question by assessing the legal, rather than prudential, constraints on MDB lending.

Parting Words: Stephen Groff on His Tenure at the Asian Development Bank

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.