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April 15, 2024
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CGD NOTES
November 30, 2021
The pandemic and its economic impact have been a revealing test of the multilateral development bank (MDB) system and of individual MDBs. Although lending by the MDBs as a group rose significantly in 2020 (39 percent), this is much less than the rise in MDB lending in response to the Global Financia...
CGD NOTES
July 08, 2021
World Bank budget support projects throughout the COVID-19 global health emergency contain significant policy conditionality. On average, each operation required the recipient government to implement 8 policy reforms to secure funding—a reasonable constraint in “normal” times but at odds with the tw...
CGD NOTES
June 01, 2021
The World Bank estimates that the global pandemic could push between 55 and 63 million people into extreme poverty in IDA (the International Development Association) countries. With IDA being the largest source of concessional loans and grants for the world’s poorest countries, its upcoming replenis...
CGD NOTES
May 21, 2021
The world is now more than a year into the second global crisis of the century. This time, the IMF has stepped up. But what about the multilateral development banks? One of their central roles is to expand the fiscal space of middle- and low-income countries (MICs and LICs) for development spending,...
CGD NOTES
April 20, 2021
The need for collaboration and cooperation across the multilateral development banks (MDBs) seems obvious. Donor governments set up these institutions to multiply their development dollars, to concentrate global development expertise, and to spread knowledge and evidence of effective development pol...
CGD NOTES
April 08, 2021
As the Biden administration turns its attention to infrastructure legislation in the United States, it is important to focus on the role investment in infrastructure financing can play in the recovery. This note covers a policy proposal for a credit enhancement instrument, using concessional financi...