The World Bank published a joint update from the Heads of Multilateral Development Banks (MDBs) setting out a renewed push to deepen cooperation amid heightened global uncertainty and emerging spillovers such as higher energy costs, supply chain disruptions and tighter financial conditions. The MDB Heads signalled readiness to deploy timely support aimed at helping members manage risks, maintain macroeconomic stability and protect vulnerable populations, while scaling impact in line with each institution’s mandate. The cooperation agenda centres on private sector development, job creation, infrastructure and long-term sustainable growth. MDB Heads agreed to establish a working group to advance efforts to mobilize private finance and expand financing capacity, including originate-to-distribute and risk-sharing approaches, alongside steps to increase transparency of emerging market credit risks through the Global Emerging Markets (GEMs) consortium, scale local currency financing and apply blended finance in a disciplined way. They also committed to closer collaboration on a common approach to measuring the jobs impact of MDB operations, expanded joint work on critical minerals supply chains, launched the Water Forward initiative to advance investable and scalable water systems, and identified artificial intelligence as another area for joint efforts. To improve effectiveness across the system, the Heads agreed a common Value for Money framework for procurement, which each bank will refine to its own operational context, and noted progress on mutual reliance frameworks to facilitate joint financing.
World Bank 2026-04-17
World Bank publishes MDB Heads’ agreements to mobilize private finance, launch Water Forward and adopt a procurement value for money framework
The World Bank published a joint update from the Heads of Multilateral Development Banks outlining a renewed push to deepen cooperation to help members manage macroeconomic risks, maintain stability and protect vulnerable populations amid higher energy costs, supply chain disruptions and tighter financial conditions. MDBs will focus on private sector development, job creation, infrastructure and sustainable growth, including a new working group to mobilize private finance, enhanced transparency of emerging market credit risks via the Global Emerging Markets consortium, scaled local currency and blended finance, and joint work on jobs impact measurement, critical minerals, water systems and artificial intelligence. The Heads also agreed a common Value for Money procurement framework and noted progress on mutual reliance frameworks.