The timing of the survey just prior to the Annual Meetings of the IMF and World Bank is purposeful. [...] Some of these areas of divergence include the role of MDBs in establishing country platforms, increasing the pipeline of bankable projects, increasing the share of local procurement and technical assistance and shortening the processing time from the concept to the approval stage. [...] Second, unlike the existing initiatives that are based on information provided by only one set of stakeholders, say the borrowers in case of ODI and employees in case of CGD, a global survey has the advantage of capturing the voices of all stakeholders and to compare and contrast their responses, say between respondents from Part I and Part II countries or between insiders and outsiders. [...] The purpose of the group was to recommend reforms to the global financial architecture and governance of the system of International Financial Institutions (IFIs) and it submitted its report in October 2018. [...] Following this, and the outbreak of the Covid-19 pandemic, the Italian Presidency in 2021, the G20 established a High-Level Independent Panel (HLIP) to recommend actionable solutions for reliable and sustainable financing of the global commons for pandemic prevention, preparedness, and response.
- Pages
- 54
- Published in
- India
Table of Contents
- Indian Council for Research on 1
- International Economic Relations 1
- MDB REFORMS IN THE SLOW LANE 1
- Indian Council for Research on 3
- International Economic Relations 3
- MDB REFORMS IN THE SLOW LANE 3
- 1. Need for independent monitoring 11
- 2. Reforming the MDBs was a priority 13
- 3. About the Global Survey of Experts 14
- 4. Reform progress has been slow and 17
- 4.1 Significant progress in expanding their vision and mission 18
- 4.2 Modest progress on MDBs becoming better banks 20
- 4.3 Private capital mobilisation agenda has barely moved in the past twelve months 24
- 4.4 MDBs are not on track to triple their lending by 2030 27
- 5. Key Conclusions and the Way 30
- Forward 30
- References 31
- Annex 1 Discussion and Progress on MDB Reforms in Past G20 Presidencies 32
- I. MDBs should convert operating models to co-create multi-year programs for transformative change 34
- Annex 2 IEG Recommendations on reform of MDBs to the G20 34
- II. MDBs should streamline and simplify business processes 35
- III. MDBs should work together better as a system 35
- IV. MDBs should bring a whole-of-institution approach to mobilize and catalyze private finance by shifting culture from risk avoidance to informed risk taking. 35
- V. MDBs should be sized to achieve the transformational change required in client countries to meet national and global priorities. 36
- Annex 3 Core components of the survey 38
- Annex 4. Questionnaire for the Global Perception Survey on MDB Reforms 40
- SECTION 1 VISION AND OPERATING MODEL 40
- SECTION 2 ENGAGEMENT WITH THE PRIVATE SECTOR 43
- SECTION 3 TRIPPLING THE LENDING CAPACITY OF MDBs 45
- SECTION 4 ABOUT THE RESPONDENT 47
- Annex 5. Detailed Figures 48
