Why and How Multilateral Development Banks Support Improved Outcomes for Economic Migrants and Refugees

For example, the AfDB’s Independent Evaluation Union looked at the TSF in 2022 (IDEV, 2022); the EBRD’s Evaluation Department reviewed the effectiveness of the EBRD’s response to Russia’s invasion of Ukraine (including the impact of the RLF); and the DRF+ was evaluated by the ADB’s Independent Evaluation Department (IED) as part of a wider review of the ADF (ADB, 2023). [...] For example, in Colombia, the IaDB and the GCFF are implementing a US$526.4 million program to “support policy reforms for the social and economic inclusion of the Venezuelan migrant population.”40 This program seeks, among other things, to support the mass regularization program for Venezuelans in the country, known as the Temporary Statute for the Protection of Venezuelan Migrants (EPTV) (Guerre. [...] Most MDBs aim to support the businesses with capital: for example, the IaDB’s Lab provides financing, knowledge, and innovation support to start-ups and venture capital,42 and the EIB and EBRD provide credit lines to SMEs and mid-size corporations, EBRD through financial intermediaries.43 Others aim to provide capital directly to economic migrants and refugees by expanding job opportunities: for e. [...] The MDB Coordination Platform on Economic Migration and Forced Displacement The Platform was launched in 2018 at the request of the G7 to advance strategic dialogue and operational coordination to maximize the impact of MDBs growing engagement in the areas of economic migration and forced displacement (IMF, 2018; AfDB, 2023a). [...] For example, the EIB commissioned MPI to look at how climate change will affect migration and the role of MDBs in responding to this (Huang et al., 2022); and the EPC to look at the EU’s approach to the intersection (Hahn and Fessler, 2023).