News
Heads of MDBs strengthen co-operation as global uncertainty rises
25 April 2025
Washington D.C. – Heads of Multilateral Development Banks (MDBs) and the IMF Managing Director, Kristalina Georgieva, met today on the sidelines of the World Bank Group-International Monetary Fund (IMF) Spring Meetings for their second gathering of 2025, building on momentum from their February meeting in Cape Town.
Chaired by Carlo Monticelli, Governor of the Council of Europe Development Bank (CEB), the meeting reaffirmed the leaders’ collective commitment to working more effectively as a system. In the face of rising global uncertainty, the MDBs underscored the importance of deeper coordination and joint action to deliver impact at scale for member countries in a number of priority areas, including private capital mobilisation.
The Heads of MDBs Group is an informal forum that brings together the leaders of major MDBs to exchange views and coordinate on shared initiatives. Their ongoing dialogue is a cornerstone of efforts to strengthen the international development finance system and ensure that MDBs remain agile, effective, and responsive to the needs of their member countries.
This second meeting provided an opportunity to take stock of progress made since the meeting in Cape Town and further align around joint deliverables for 2025, including on the implementation of the G20 Roadmap towards Better, Bigger and More Effective MDBs. While each MDB has its own mandate, client countries and governance structure, the G20 has called on the MDBs to enhance coordination on systemic issues, achieving synergies in areas where collective action can add value.
As Chair of the Heads of MDBs Group since December 2024, and as the social development bank for Europe, the CEB has also been striving to bring social investment to the forefront of the system-wide MDB agenda, as a driver for jobs and growth, building on the priorities of solidarity, equality and sustainability of the South African G20 Presidency.
The meeting was attended in person by the presidents of MDBs: Akinwumi Adesina of the African Development Bank, Masato Kanda of the Asian Development Bank, Jin Liqun of the Asian Infrastructure Investment Bank, Odile Renaud-Basso of the European Bank for Reconstruction and Development, Nadia Calviño of the European Investment Bank, Ilan Goldfajn of the Inter-American Development Bank, Muhammed Al-Jasser of the Islamic Development Bank, Ajay Banga of the World Bank Group, in addition to Kristalina Georgieva, Managing Director of the IMF and Anil Kishora, Vice-President and Chief Risk Officer of the New Development Bank.
The Council of Europe Development Bank (CEB) is a multilateral development bank, whose unique mission is to promote social cohesion in its 43 member states across Europe. The CEB finances investment in social sectors, including education, health and affordable housing, with a focus on the needs of vulnerable people. Borrowers include governments, local and regional authorities, public and private banks, non-profit organisations and others. As a multilateral bank with an excellent credit rating, the CEB funds itself on the international capital markets. It approves projects according to strict social, environmental and governance criteria, and provides technical assistance. In addition, the CEB receives funds from donors to complement its activities.