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Multilateral development banks and financing for development: The role of resource needs reviews

Author

Listed:
  • Bhandary, Rishikesh Ram
  • Gallagher, Kevin P.
  • Zucker-Marques, Maria
  • Colodenco, Maia
  • Asef Horno, Florencia

Abstract

Multilateral development banks (MDBs) play a key role in providing developing countries with affordable, long-term finance. In 2024, to help meet development challenges, the G20 agreed on a roadmap to make the MDBs bigger, better and more effective and recommended MDBs conduct resource needs reviews to assess the adequacy of their resources to meet shareholder objectives and shared global challenges. This paper investigates the extent to which MDBs incorporate resource needs into their reviews of capital requirements. We find that MDBs generally do not have rigorous, evidence-based processes in place. Where they exist, the reviews have been ad hoc and focused on preserving the financial robustness of MDBs. Needs assessments exhibit path dependencies reflecting envelopes used in prior rounds. Our analysis is rooted in MDB documents, G20 communiqués, and case studies of MDBs. Forwardlooking resource needs assessments will be crucial to ensure that MDBs have the resources they need to support those objectives. The paper concludes with a set of principles that could govern resource reviews processes.

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Handle: RePEc:zbw:iedlwp:336694
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File URL: https://www.econstor.eu/bitstream/10419/336694/1/iedl-wp11.pdf
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JEL classification:

  • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
  • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
  • H81 - Public Economics - - Miscellaneous Issues - - - Governmental Loans; Loan Guarantees; Credits; Grants; Bailouts
  • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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