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CGD NOTES
July 17, 2023
Low-income countries are in a battle for their lives and livelihoods, but they lack the resources to respond effectively. As the largest single source of development finance for the world’s poorest countries, the World Bank’s International Development Association (IDA) must be at the center of the s...
Blog Post
July 06, 2023
Calls for MDB reform have emerged in recent years, including at COP27 and by G20 leaders. These have largely focused on scaling up the amount of funding available. What’s really needed is a paradigm shift: MDBs must evolve both in the work they do and the way they operate to meet the world’s urgent ...
Blog Post
June 28, 2023
On June 26, France released an outcome document from the Summit for a New Global Financing Pact, which brought together governments, multilateral develop banks and other stakeholders to consider reforms to the global financial system. So just what are the elements of this new global compact?
Blog Post
June 28, 2023
On June 14, we published a paper titled “What Counts as Climate?” where we argued that the World Bank has developed a climate portfolio that lacks estimates of greenhouse gas emissions reductions and has no standardized reporting on GHG estimates. Last week, the World Bank sent an email to members o...
Blog Post
June 27, 2023
The post-conference statement from the recently concluded Paris Summit for A New Global Financing Pact undercuts the calculations at the core of the idea we could take billions of multilateral finance and ODA to mobilize trillions of private investment for climate and development. If the Paris Summi...
Blog Post
June 27, 2023
Ajay Banga has begun his mandate as the newly elected President of the World Bank. Several blogs and papers have been written offering advice on what his priorities should be. Most suggestions assume that the World Bank President's office is a very powerful lever that can significantly change the or...
POLICY PAPERS
June 20, 2023
If we could reinvent MDBs to respond to urgent development and climate needs and to benefit from 70 years of experience with the model, what would they look like? Countries should chart their own low-carbon climate resilient development and growth paths, with robust analytical support from MDBs that...
Blog Post
June 16, 2023
The International Monetary Fund (IMF) needs more subsidy resources to continue its concessional lending to low-income countries (LICs) at current levels. Following the example set by the United Kingdom, lenders to the IMF's Poverty Reduction and Growth Trust (PRGT) can build subsidy resources into t...
CGD NOTES
June 16, 2023
In this note we assess the potential short-term fiscal impact of these instruments. We look at three major natural disasters over the past two years and assess how much relief each country would have received if DSCs had been included in the totality of their external debt instruments.
Blog Post
June 14, 2023
Too often, climate finance is treated as a proxy for climate outcomes when it comes to agenda-setting and strategy at the multilateral development banks. Over the last 18 months, the World Bank’s shareholders have led a major reform push that would have the Bank focus more on climate, with the discu...