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Development finance evolution: options for strengthening MDBs financial capacity

How can Multilateral Development Banks increase their capacity to address shared global challenges of the 21st century?

Speakers

Soha El-Turky

Vice-President and CFO, European Bank for Reconstruction and Development

Alexia Latortue

Assistant Secretary for International Trade and Development, US Department of the Treasury

Nancy Lee

Director, Sustainable Development Finance and Senior Policy Fellow, Center for Global Development

Shri Ajay Seth

Secretary - Department of Economic Affairs, Ministry of Finance, India

Agenda

Opening remarks

13:30-13:35

Agenda

Panel discussion

13:35-14:25
  • Chair: Nancy Lee, Director, Sustainable Development Finance and Senior Policy Fellow, Center for Global Development
  • Soha El-Turky, Vice-President and CFO, European Bank for Reconstruction and Development
  • Alexia Latortue, Assistant Secretary for International Trade and Development, US Department of the Treasury
  • Frannie Léautier, CEO, SouthBridge Group
  • Ondrej Mates, Head, Capital Management division, European Investment Bank
  • Shri Ajay Seth, Secretary - Department of Economic Affairs, Ministry of Finance, India

Agenda

Q&A

14:25-14:55

Agenda

Closing remarks

14:55-15:00
  • Nancy Lee, Director, Sustainable Development Finance and Senior Policy Fellow, Center for Global Development

This event, jointly organized by Bruegel and the Center for Global Development (CGD), with the participation of the European Commission, provided an opportunity to discuss the implementation of the recommendations G20 Independent Review of MDBs’ Capital Adequacy Frameworks (CAF).

The Multilateral Developmment Bank system needs to evolve, as many of the biggest challenges in the world today are transboundary (e.g., climate change, pandemics). However, the existing multilateral development finance architecture was not designed to address these types of challenges within country portfolios. A refreshed vision of the MDB’s role is needed, one that integrates the traditional development vision (extreme poverty eradication, shared prosperity, and Sustainable Development Goals) with global challenges.

Crucially, there must be a recognition that global challenges and traditional development are interlinked and mutually dependent, and that work to address one does not have come at the expense of the other.

Public | On the record | Livestreamed