Infrastructure News

Leaders ask MDBs to leverage pvt capital, Infra News, ET Infra


NEW DELHI: G20 leaders have asked the financial institutions to leverage private capital through innovative financing models and new partnerships to make maximum development impact.

The leaders, on Saturday, asked the Multilateral Development Banks (MDBs) to pursue reforms for better, bigger and more effective ways to address global challenges to maximise developmental impact.

Devise pipelines of investible projects in developing countries, by leveraging expertise of MDBs to mobilise investments.

Enhance the resilience of health systems and support development of climate resilient and low-carbon health systems in collaboration with MDBs, and support the work of the WHO-led Alliance for Transformative Action on Climate and Health (ATACH).

“We welcome the recommendations of the Sustainable Finance Working Group (SFWG) for scaling up blended finance and risk-sharing facilities, including the enhanced role of MDBs in mobilizing climate finance,” an official communication said.

Call on all relevant financial institutions, such as MDBs and multilateral funds to further strengthen their efforts including by setting ambitious adaptation finance targets and announcing, where appropriate, revised and enhanced 2025 Projections, it added.

The summit endorsed the G20 Roadmap for Implementing the Recommendations of the G20 Independent Review of MDBs Capital Adequacy Frameworks (CAFs) and call for its ambitious implementation, within MDBs’ own governance frameworks while safeguarding their long-term financial sustainability, robust credit ratings and preferred creditor status.

“We also call for a regular review of the progress of implementation on a rolling basis including through engaging with MDBs, subject experts and shareholders,” it said.

  • Published On Sep 9, 2023 at 08:26 PM IST

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