The G20 India Presidency has set up an Independent Expert Group (IEG) to prepare a report on strengthening multilateral development banks. The terms of reference for the report are to provide:

a. A roadmap for an updated MDB ecosystem for the twenty-first century, with milestones and timelines, touching upon all aspects of MDB evolution, including but not limited to vision, incentive structure, operational approaches and financial capacity so that MDBs are better equipped to finance a wide range of SDG and transboundary challenges such as climate change and health.

b. An evaluation of various estimates regarding the scale of funding required by and from MDBs for addressing their and member countries’ increased financing needs for SDG and transboundary challenges, taking into account the additional capacity that can be derived from the CAF recommendations alongside other important sources such as the private sector and public sector funds (AND)

c. Mechanisms for coordination among MDBs for them to address and finance global development and other challenges more effectively.