ICRIER, in close coordination with Brookings, the Centre for Global Development (CGD), and ODI, conducted a global survey of experts on their perceptions of the pace of Multilateral Development Bank (MDB) reforms, based on recommendations by the Independent Experts Group (IEG) under the Indian G20 Presidency. The questionnaire focused on five key areas where reforms are critical to transforming the MDB system: vision and mission, making MDBs better, bolder, and bigger banks, and establishing a monitoring mechanism.
The results from the survey indicate slow and uneven progress on MDB reforms. While MDBs have expanded their mandate to address global public goods like climate change, pandemic preparedness, and other transboundary challenges without neglecting the SDGs, the implementation of reforms to achieve their broader mandate—to become better, bolder, and bigger banks—has been unsatisfactory.
