Opening remarks
- Elena Flores, Deputy Director-General, European Commission, DG ECFIN
- André Sapir, Senior fellow
Panel discussion
- Chair: Nancy Lee, Director, Sustainable Development Finance and Senior Policy Fellow, Center for Global Development
- Soha El-Turky, Vice-President and CFO, European Bank for Reconstruction and Development
- Frannie Léautier, CEO, SouthBridge Group
- Ondrej Mates, Head, Capital Management division, European Investment Bank
- Shri Ajay Seth, Secretary - Department of Economic Affairs, Ministry of Finance, India
Additional speaker to be confirmed
Closing remarks
- Nancy Lee, Director, Sustainable Development Finance and Senior Policy Fellow, Center for Global Development
This is an external event featuring CGD Senior Policy Fellow, Nancy Lee
This event, jointly organized by Bruegel and the Center for Global Development (CGD), with the participation of the European Commission, provides an opportunity to discuss the implementation of the recommendations G20 Independent Review of MDBs’ Capital Adequacy Frameworks (CAF).
The Multilateral Developmment Bank system needs to evolve, as many of the biggest challenges in the world today are transboundary (e.g., climate change, pandemics). However, the existing multilateral development finance architecture was not designed to address these types of challenges within country portfolios. A refreshed vision of the MDB’s role is needed, one that integrates the traditional development vision (extreme poverty eradication, shared prosperity, and Sustainable Development Goals) with global challenges.
Crucially, there must be a recognition that global challenges and traditional development are interlinked and mutually dependent, and that work to address one does not have come at the expense of the other.
