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The rise of China as a major bilateral development partner and the emergence of new development agencies raises the question of whether the existing multilateral financing system is fit for purpose. In addition, nations face shared problems—such as climate change, the threat of pandemics, and unregulated cross-border movements of people—that can only be addressed through international cooperation.
With aid a declining share of development finance, CGD is asking what institutional changes are needed within the multilateral development banks and other international financial institutions to reflect new realities and rise to the challenge of funding the SDGs? And how can those changes be made most effectively?
On the sidelines of the World Bank and IMF Annual Meetings in Bali, the Center for Global Development, the International Development Finance Club (IDFC), and the Organization for Economic Co-operation and Development (OECD) are pleased to co-host an event, The Changing Role of Development Banks with a Public Mandate in the 2030 Agenda.
The session will focus on the United Nations’ 2030 Agenda, framed by the Sustainable Development Goals (SDGs), and how national and regional development banks can support policy development and financing of these ambitious goals. The Center for Global Development and the IDFC will present their findings on how the twenty-three IDFC development banks are aligning with SDGs and how these banks are evolving to promote sustainable development pathways in the long run. The OECD will discuss the role that emerging economies’ development banks can play in mobilizing the private sector to assist in funding the SDGs. The presentations will be followed by a panel discussion and a reception.
DFIs are frequently asked to demonstrate their additionality—meaning that they make investments that the private sector would not—but what evidence of additionality would look like is rarely articulated. This paper examines potential quantitative and qualitative evidence.