MDBs Prepare to Assist Countries Threatened by Crisis Due to Global Conflicts

By combining our financial strength, knowledge, and partnerships, we help countries overcome current pressures while building resilience for the future. Jakarta (ANTARA) - Leaders of Multilateral Development Banks (MDBs) are strengthening cooperation to assist countries threatened by crises due to global pressures, including the Middle East conflict. The MDB leaders include 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. “By combining our financial strength, knowledge, and partnerships, we help countries overcome current pressures while building resilience for the future,” said Masato Kanda, President of the Asian Development Bank (ADB) and Chair of the MDB Heads Group, in a written statement in Jakarta on Saturday. The MDBs note that the impacts of current global developments are already being felt through rising energy costs, supply chain disruptions, and tightening financial conditions. The MDBs are working to help countries and clients manage risks, maintain macroeconomic stability, and protect vulnerable population groups. The MDB leaders stated that they will continue joint efforts in other priority areas, including artificial intelligence (AI). The MDB leaders reaffirmed their commitment to working more effectively as a system, including by focusing more on quality and value. They agreed on a joint 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 an interoperability framework to ensure smooth co-financing for MDB projects.