How can National Development Banks (NDBs) and Multilateral Development Banks (MDBs) mobilise more private sector funding to reach the Sustainable Development Goals? According to EIB Vice-President Ambroise Fayolle, ‘We have to find more innovative ways of working together, and enhance trust among ourselves in the appraisal process.’
Effectiveness of development cooperation
Speaking at the roundtable ‘Billions to trillions: The role of National Development Banks’ at the IMF/World Bank Annual Meetings on 13 October, Fayolle explained that this enhanced collaboration is already making a difference: ‘An example is the Mutual Reliance Initiative between the European Investment Bank, the Agence Française de Développement and Kreditanstalt für Wiederaufbau (KfW),’ he said.
The Mutual Reliance Initiative allows the promoters of investment projects co-financed by the three development institutions in EU partner countries to benefit from a larger project finance capacity through a structured division of labour.
Source: EIB – European Investment Bank