Multilateral Development Banks
Multilateral Development Banks
In recent years, the valuable role that multilateral development banks can and do play in emerging, and developed economies, has received clearer recognition in wider and ever-growing circles. This paper identifies, and discusses, four valuable functions that seem crucial for multilateral as well as regional and national development banks: a) providing counter-cyclical long-term finance, especially for supporting investment; b) supporting national development strategies; c) mobilizing increased resources, for example by leverage and blending; and d) financing the provision of public goods, such as mitigating climate change. The paper emphasizes that development banks should be conceived and analyzed as a system, where synergies and complementarities exist between multilateral, regional, and national development banks.
Keywords: Development Banks, Investment, Development Strategy, Public Goods, Climate Change
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