The multilateral development banking (MDB) system is regarded as having been remarkably successful—but is the model still fit for purpose? CGD president Nancy Birdsall and senior fellow Scott Morris delve into a new CGD report's recommendations on how to make MDBs more effective.
CGD Policy Blogs
Senators Barbara Boxer (D-CA) and Jeanne Shaheen (D-NH) recently introduced a bill that tackles an important subject in global security: the under-representation of women in the world’s security forces and, in particular, United Nations peacekeeping operations. That's a great step, but with a bit more money to provide direct incentives and the support of our allies, the United States might be able to bring the percentage of women in UN Peacekeeping Operations up four-fold.
Lawrence H Summers, former US Treasury Secretary, Harvard professor, and the CGD Board Chair, explains why the World Bank and the regional multilateral development banks (MDBs) are well-placed to help address some of today’s urgent problems, including climate change, pandemics, and the problems of large-scale forced migration.
Rory Stewart MP gave a wise speech about how Britain can play a role in global peace and stability. In my brief response to the Minister, I suggested twelve policies which are within our control which would help create conditions for stronger, more peaceful, more prosperous countries to thrive, and so reduce the risks of future conflict and instability. Here they are.
Finance and development ministers gathered in Washington this weekend at the World Bank’s annual meetings have an ambitious agenda of topics to discuss. But the truth is, it is not nearly ambitious enough. A new CGD report by a high level commission of development and finance experts explains why and what should happen.
As part of a joint CGD-IRC study group, we have been developing concrete ideas on how to move the global community toward providing refugees and their host communities pathways to self-reliance that can benefit all. Greater attention to education and livelihoods opportunities for refugees is a welcome development, but it is critical to ensure that new financing commitments are not simply funding business-as-usual.
This past week, the UN General Assembly featured a high-level meeting on the growing threat of antimicrobial resistance (AMR)—by far the most high-profile gathering ever on this topic, and just the fourth ever such meeting on a health-related issue following HIV (2001), non-communicable diseases (2011), and Ebola (2014).
This past weekend in Montreal, the Global Fund to Fight AIDS, TB and Malaria matched and exceeded its last three-year replenishment cycle with contributions of nearly $13 billion USD for its work, making the agency one of the world’s largest external funders for health in low-income countries.
Last week the World Bank Board closed the three-week window, announced in late August, for member countries to nominate candidates for the presidency of the World Bank. Jim Kim, the US nominee and incumbent since his election in 2012, was formally nominated by the United States at 12:01 a.m. at the opening bell, so to speak. He is the sole candidate in what appears to have been a kind of insider coup by the United States (called a “charade” in a World Bank Staff Association letter to its members) of the procedures agreed by World Bank members in 2011.
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.