The Multilateral Development Banks the World Needs
Multilateral development banks are the only institutions that provide the combination of expertise, staying power, low-cost financing, leverage, and knowledge-sharing capabilities needed to assist developing countries. But to help transform these countries' future, the MDBs must first transform themselves.
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CAMBRIDGE – The world is literally on fire this summer. Experts estimate that another COVID-level public health threat is likely to emerge in the next generation. Rising interest rates have left dozens of countries with unmanageable debt burdens. And for the first time in nearly half a century, the global economy is fracturing rather than coming together.