The World Bank Group published an update from the Heads of Multilateral Development Banks (MDBs) meeting on the sidelines of the World Bank Group–International Monetary Fund Spring Meetings, where they agreed to intensify cooperation to support member economies amid heightened global uncertainty. The MDB heads highlighted a focus on timely support to help manage risks, maintain macroeconomic stability and protect vulnerable populations, alongside longer-term priorities including private sector development, job creation and infrastructure. To mobilise more private finance and expand financing capacity, the heads agreed to establish a working group to advance originate-to-distribute and risk-sharing approaches. Other agreed areas of joint work included increasing transparency of credit risks in emerging markets through the Global Emerging Markets consortium, scaling up local currency financing and domestic financial market development, disciplined use of blended finance, and developing a common approach to measuring MDB impact on creating more and better jobs. Collaboration will also be strengthened on critical minerals supply chains, and MDBs launched Water Forward to advance investable, scalable water systems; joint work will continue on other areas including artificial intelligence. On operating more effectively as a system, the MDB heads agreed a common Value for Money framework for procurement that each institution will refine to its own operational context, and noted progress in using mutual reliance frameworks to support seamless joint financing of MDB projects.
World Bank 2026-04-17
World Bank Group and other MDB heads deepen collaboration with a new private finance working group and the Water Forward initiative
The World Bank Group said heads of multilateral development banks agreed to intensify cooperation to support member economies amid global uncertainty, focusing on risk management, macroeconomic stability, protection of vulnerable populations, and longer-term priorities such as private sector development, jobs and infrastructure. They will create a working group to advance originate-to-distribute and risk-sharing approaches, scale up local currency financing, enhance transparency of credit risks, and develop a common approach to measuring job creation, while strengthening collaboration on critical minerals, water systems and artificial intelligence. The heads also agreed a common Value for Money procurement framework and noted progress in mutual reliance frameworks for joint project financing.