ADB-IMF Chiefs Gather in the US, Prepare 'Injection' to Face Global Crisis
Various global financial institutions are uniting their commitments to strengthen funding access for their partner countries in facing global economic pressures due to conflicts in the Middle East.
This statement emerged after the leaders of multilateral development banks (MDBs) held a meeting over the weekend, on the sidelines of the Spring Meetings of the World Bank Group-International Monetary Fund (IMF).
The MDB leaders hailed from the African Development Bank Group, Asian Development Bank, Asian Infrastructure Investment Bank, Council of Europe Development Bank, European Bank for Reconstruction and Development, European Investment Bank, Inter-American Development Bank Group, Islamic Development Bank, New Development Bank, and the World Bank Group. The International Monetary Fund (IMF) also joined the discussion among those leaders.
“Multilateral development banks (MDBs) are now working more closely together than ever before to support our members and clients amid a complex and ever-changing global environment,” said Masato Kanda, Chair of the MDB Heads Group and also President of the Asian Development Bank (ADB), quoted from a written statement on Monday (20/4/2026).
Masato Kanda stated that close collaboration to support stability, maintain development progress, and respond to increasing pressures in member countries is now vitally important, through funding access.
“By combining our financial strength, knowledge, and partnerships, we are helping countries overcome current pressures while building resilience for the future,” he emphasised.
The MDB leaders noted that the impact of current global developments is already being felt through rising energy costs, supply chain disruptions, and tightening financial conditions.
Those leaders emphasised the MDBs’ readiness to provide timely and effective support, even on a large scale, to help countries and clients manage risks, maintain macroeconomic stability, and protect vulnerable population groups.
This funding support will focus on private sector development, job creation, infrastructure, and long-term sustainable growth, in line with each institution’s mandate, strategy, and operational focus.
“The leaders emphasised the importance of strengthening efforts to mobilise private financing and expand financing capacity, including through originate-to-distribute/share approaches that enable MDBs to create bankable opportunities and attract private capital on a large scale,” quoted from the statement by the MDB leaders.
The MDB leaders also agreed to form a working group to continue these efforts. They acknowledged the importance of enhancing credit risk transparency in emerging markets through the Global Emerging Markets (GEMs) consortium, increasing financing in local currencies, including through the development of domestic financial markets to help reduce exchange rate risks; and the disciplined use of blended financing.
They agreed to forge closer cooperation in a joint approach to measuring the impact of MDB operations in creating more and better jobs to lift households out of poverty, enhance social cohesion, and reduce vulnerability.
In the meeting, they also agreed on a common framework regarding Value for Money in procurement to ensure the quality and sustainability of MDB-funded projects, which will be adapted by each bank to its own operational context. They also highlighted progress in implementing the interdependence framework to ensure smooth co-financing for MDB projects.
In addition, they committed to strengthening cooperation in critical minerals—working together to support diverse, resilient, and responsible supply chains to bolster energy resilience, digital transformation, job creation, and value addition in the countries where they operate.
Various MDBs also launched Water Forward—an global initiative to develop investable and scalable water systems that drive job creation, prosperity, food resilience, and robustness. The MDB leaders stated that they will continue joint efforts in other priority areas, including artificial intelligence.