Ongoing discussions to reform the international financial architecture across various fora are driven by a common recognition that international public financial resources are not being delivered at the scale and pace required to tackle global challenges, including climate change.
As such, a large opportunity lies in leveraging the diversity and potential synergies of the broader public development banks (PDB) ecosystem to support the realisation of country climate and development goals at the national level.
Multilateral development banks (MDBs) and national development banks (NDBs) each contribute distinct qualities to such an ecosystem. Consequently, these actors are called to improve their climate-related cooperation to better leverage their comparative advantages.
This paper summarises each institution’s strengths, highlights potential synergies and suggests options for enhanced co-operation.
