Country Platforms for Climate Action : MDB Statement of Common Understanding and Way Forward (English)

The Multilateral Development Banks (MDBs) announced today their support for developing and implementing country platforms for climate action. This initiative aims to enhance the effectiveness and impact of climate strategies and commitments by fostering country-led, coordinated processes that unite key stakeholders, building on MDBs' commitment to work as a system. The announcement was made during the World Bank/IMF Annual Meetings. Country platforms are mechanisms owned, led, and driven by countries based on a shared strategic vision and tailored to the specific context of each nation. These platforms are designed to support countries in developing and implementing their development strategies, ensuring a comprehensive and integrated approach to key challenges. The MDBs will leverage their extensive experience in country engagement, multi-sector solutions, climate policy support, and climate finance delivery to enhance the effectiveness of these platforms by following key principles: the platforms must be initiated by the country itself; the country must have a strong political commitment and ownership for driving ambitious climate targets and policy reforms, identify specific investment needs and programs, coordinate finance from both public and private sectors to support investment delivery, and ensure a broad stakeholder engagement and measurable progress.