G20 – Expert Group on Strengthening MDBs G20 has set up an e | UPSC Mains 2023 Materials

G20 – Expert Group on Strengthening MDBs

G20 has set up an expert group for strengthening Multilateral Development Banks (MDBs).

Details :

The G20, under the aegis of India’s Presidency, has set up an expert group on strengthening Multilateral Development Banks (MDBs) with Harvard University President Emeritus Lawrence Summers and Institute of Economic Growth president NK Singh as co-conveners.

The objectives of the expert group include :

Preparation of a roadmap for an updated MDB ecosystem for the 21st century with milestones and timelines.

The panel will also focus on mechanisms for coordination among MDBs to address and finance global development and other challenges more effectively.

It will also evaluate 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.

Capital Adequacy Frameworks (CAFs) play a crucial role in providing affordable financing to the most vulnerable countries.

The Expert Group will submit its report to the Indian Presidency of the G20 before 30th June 2023.


Tag:   #GS2  #IR #G20 #Group #Pre