Multilateral development banks still need work on implementing reforms,
By JerryPublished On April 12, 2024
WASHINGTON, April 11 (Reuters) – The World Bank and six other multilateral banks have made good progress in integrating global challenges like climate change into their agendas, but most have miles to go in implementing other needed reforms, a tool tracking the reforms shows.
The tracker,, opens new tabdeveloped last year by the Center for Global Development (CGD), assessed progress at seven multilateral development banks (MDBs) on 28 specific items under five categories: using capital more efficiently, expanding capital, adding global challenges to their mandates, mobilizing private finance and making country engagements more efficient.
It found highly uneven results among the institutions and said no single MDB excelled in all reform categories.
“People should be encouraged with progress on expanding the mandates, but they should not be satisfied with progress on the other categories,” said Nancy Lee, a former senior U.S. Treasury official and lead researcher for CGD’s MDB Reform Tracker.
“The glass is more empty than full.”
Lee said she worried that without real progress and actions by all the major MDBs inertia could set in and momentum for reforms could subside.