Towards a Sustainable Global Economy: the Role of Multilateral Development Banks in Financing Global Public Goods

Today, we are facing a unique and unprecedented challenge: a dual environmental and climate crisis. This crisis could have irreversible and dangerous consequences for humanity. It results mainly from a market failure, which needs to be addressed. The responsibility of making the ambitious, but necessary, shifts, is incumbent on all players and the need for financing is massive. Governments, the private sector, and private individuals all have a role to play. In addition, multilateral development banks (MDBs) such as the EBRD must facilitate the financing of global public goods and help developing countries resolve their climate crisis, while ensuring their competitiveness on a global scale. The aim is to help these economies develop to ensure that market forces lead to the desired results. This mainly involves mobilizing private capital and reforming economic systems. Succeeding in seriously and effectively tackling these issues means showing both the ability to cope with the crisis and to seize an economic opportunity.