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CGD Policy Blogs

 

US Multilateral Leadership in an AIIB Era

At the moment, the issue of US leadership at the multilateral development banks (MDBs) is focused squarely on the World Bank presidency. But there’s a lot more to it than that, and a lot more at risk for the United States in the years ahead. In a new paper for the Council on Foreign Relations, I examine the US role in the MDB system—why it matters for the United States itself, how China has emerged as a game changer, and how the United States is too often its own worst enemy when it comes to effective leadership.

The World Bank's New Safeguards: A Step Forward or Back? – Podcast with Scott Morris

A multi-year project just came to fruition with the endorsement by the Board of the World Bank of its new set of safeguards—the social and environmental standards that govern Bank-funded projects in client countries. CGD's expert on multilateral development banks, senior fellow Scott Morris, reacted to the new policies in a recent blog post, and joins me this week on the CGD Podcast to discuss. 

When China Looks at MDBs, It Sees Infrastructure

When the Chinese government launched a new multilateral development bank (MDB) with “infrastructure” in the name—the Asian Infrastructure Investment Bank (AIIB)—it hardly seemed far-fetched to assume a strong Chinese preference for infrastructure-related MDB financing. Everything we know about China’s bilateral development financing suggests the same. Yet, a closer look at the AIIB’s charter suggests openness to a broader range of sectors and activities, pointing to potential for investments in “other productive sectors.”

For the IMF Package in the Omnibus Budget, a Sigh of Relief — and a Warning for the Future

Congress finally gave the administration what it has been asking for on IMF quota reform, and then some. At the same time, Congress didn’t just give the administration the ability to go forward on governance reform that gives more voting power to rising developing countries.  It also included some potentially consequential conditions on its approval. Here we see risks going forward that are manageable but will require some skillful navigation by the next administration.  

Congress Talks MDBs

It was a beautiful, barely-fall Friday in Washington, which made it all the more impressive that twelve members dropped in on a morning House Financial Services Subcommittee hearing on the multilateral development banks (MDBs).

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