Heads of the world’s major Multilateral Development Banks gathered over the weekend to assess progress on joint reform initiatives and chart priorities for enhanced cooperation, reaffirming commitments to strengthening development impact across regions and sectors. The meeting, chaired by the Council of Europe Development Bank (CEB), brought together leaders including representatives from the African Development Bank Group to evaluate achievements under the 2024 Viewpoint Note and the G20 Roadmap towards “Better, Bigger, and More Effective MDBs.”
The consortium reported several significant milestones that demonstrate coordinated progress. A joint report submitted to the G20 detailed how MDBs are collectively expanding lending capacity, mobilizing private capital, and improving operational cooperation across institutions. The group also unveiled the inaugural “MDB Comparison Report,” developed by the Global Risk and Finance Forum, which aims to increase transparency and enable better comparability of MDBs’ financial positions and operational performance.
Recent collaborative outputs underscore the breadth of shared priorities. The “Joint Annual MDB Water Security Financing Report” was launched at the Fourth International Conference on Financing for Development in Sevilla, showcasing coordinated efforts in this critical sector. Simultaneously, a joint report on social infrastructure highlighted how MDBs are collectively supporting investment in health, education, housing, and water systems across developing economies.
The MDB Heads emphasized ongoing work in scaling financial innovation and promoting originate-to-share models that expand development finance beyond traditional channels. Key initiatives include mobilizing private capital through mechanisms like the Global Emerging Markets Risk Database, which aims to reduce risk perceptions and attract institutional investors to emerging markets. The group reinforced its commitment to helping client countries advance sustainable development goals, particularly as the international community prepares for COP30 in November 2025 in Belém, Brazil.
The meeting included a substantive exchange with Rafael Grossi, Director General of the International Atomic Energy Agency, who discussed emerging trends in civil nuclear energy and its potential contribution to global energy transition objectives. This dialogue reflects growing recognition that diverse energy solutions may be necessary for meeting climate commitments.
Carlo Monticelli, Governor of the CEB and chair of the MDB Heads Group throughout 2025, will transfer leadership responsibilities to the Asian Development Bank in December. Participants acknowledged his efforts in strengthening coordination and institutional alignment across the multilateral development system. The MDB Heads group convenes periodically to align institutional priorities, improve development effectiveness, and report on system-wide progress toward shared objectives.
