Multilateral development banks (MDBs) remain highly relevant to their clients, and their relevance has increased over the past five years, although there is a need for further progress on reform of some of their functions.
This was among the findings of the 'Reforming multilateral development banks: perspectives from client countries' report produced by UK-based think tank ODI Global.
The report surveyed 650 government and MDB officials from 125 countries and conducted a further 250 interviews for 12 country case studies.
MDBs continue to play an essential role in supporting long-term socioeconomic development in their client countries, the report showed.
Three-quarters of respondents view MDBs’ functions, including financing at better-than-market terms, policy advice and technical assistance, knowledge generation and convening, as 'very relevant' or 'extremely relevant' to their countries’ development trajectories.
