G20 Summit 2024

The G20 Rio de Janeiro Leaders' Declaration (2024)endorsed two key initiatives: (1) The G20 Roadmap for Better, Bigger, and More Effective Multilateral Development Banks (MDBs), which supports ambitious, country-owned and country-led platforms. This initiative aims to support platform planning, design, co-financing, and implementation to advance the development and implementation of the country development strategies and NDCs (2) Pursue operational reforms to better work as a system within country platforms, specializing in sectors and activities where MDBs have a proven track record and comparative advantage, and setting internal incentives, aligned systems, and dedicated instruments.

Supported two key initiatives: (1)G20 MDBs Roadmap that will continue CAF reviews and periodic evaluations, including exploring system-wide approaches to assess the risk mitigation value of callable capital, ensuring capital adequacy frameworks reflect this value while maintaining MDBs' financial stability and strong credit ratings; (2) Enhance MDB engagement with credit rating agencies to promote methodologies that account for MDBs' unique features, including their counter-cyclical lending roles.