Heads of MDBs Review Progress and Plan Ahead

The Heads of Multilateral Development Banks (MDBs) Group, chaired in 2025 by the Council of Europe Development Bank (CEB), met to assess progress on joint initiatives and set priorities for the Group’s future work.

During the meeting, leaders highlighted that collaboration among MDBs has strengthened throughout 2025 under the CEB’s chairmanship, building on the momentum of the MDBs’ 2024 Viewpoint Note. Progress since the last gathering in Paris on 28 June 2025 was welcomed, alongside a renewed commitment to work collectively for greater impact at scale.

Key achievements noted include:

• Submission of a comprehensive joint report to the G20, documenting implementation of the G20 Roadmap towards Better, Bigger, and More Effective MDBs, including increased lending capacity, leveraging private capital for development, operational collaboration, and measurable results.
• Publication of the first MDB Comparison Report by the Global Risk and Finance Forum (GRaFF), enhancing transparency and comparability of financial positions across MDBs.
• Engagement with credit rating agencies to improve understanding of MDBs’ unique financial models and risk frameworks, as outlined in a GRaFF-prepared note.
• Release of the first Joint Annual MDB Water Security Financing Report, unveiled at the Fourth International Conference on Financing for Development (FfD4) in Seville.
• Publication of a joint report on Social Infrastructure in Focus, highlighting MDB contributions to health, education, housing, and water projects that boost productivity, create jobs, and support resilient societies.

Heads also discussed ongoing initiatives, including mobilisation of private capital for development, financial innovations, scaling flagship regional programmes such as Mission 300, promoting reliance arrangements, and supporting social infrastructure investments. Ahead of COP30 in Belém, Brazil, in November 2025, MDBs pledged support to countries and clients in implementing climate and development strategies.

The meeting concluded with an exchange of views with IAEA Director General Rafael Grossi on trends in civil nuclear energy.

The chairmanship of the Heads of MDBs Group will pass from the CEB to the Asian Development Bank in December. The Group expressed its gratitude to CEB Governor Carlo Monticelli for his leadership and dedication during his tenure.