BAKU, Azerbaijan, Feb. 26. Leaders of the
world’s major multilateral development banks (MDBs) have agreed to
intensify efforts to expand financing capacity and coordinate
action on key global development priorities, the Asian Development
Bank (ADB) said, Trend reports.
The announcement came at the first 2026 meeting of the MDB Heads
Group, convened virtually as ADB assumed its chairship. The meeting
brought together leaders of institutions including the African
Development Bank, European Investment Bank, Inter-American
Development Bank, Islamic Development Bank, New Development Bank,
and the World Bank Group, with participation from the International
Monetary Fund.
“At a time of growing global complexity, MDB coordination
matters more than ever. We reaffirmed a common direction: bringing
together our combined institutional weight to help unlock scale,
demonstrate impact, and shift outcomes,” said ADB President Masato
Kanda. “As Chair, ADB will work to ensure that our process remains
relevant, pragmatic, and responsive to shareholder expectations,
while firmly connecting regional development needs to the evolving
global financing architecture.”
The MDB heads agreed to focus in 2026 on mobilizing private
capital, expanding MDB financing capacity, enhancing institutional
collaboration, and increasing joint action on priority development
issues including jobs, artificial intelligence, water, critical
minerals, and nature-based solutions.
