G20 Financial Architecture Working Group Convenes in South Africa to Advance Global Development Bank Reform
Delegates will deliberate on a range of key issues, including the progress and future direction of the G20 Roadmap towards Better, Bigger, and more Effective MDBs
The third meeting of the G20 International Financial Architecture Working Group (IFA WG) is currently underway in Hoedspruit, Limpopo, bringing together global financial leaders to assess and strengthen the role of multilateral development banks (MDBs) in tackling global development and economic challenges.
Over the next two days, delegates will deliberate on a range of key issues, including the progress and future direction of the G20 Roadmap towards Better, Bigger, and more Effective MDBs—a strategic framework aimed at transforming MDBs to support sustainable development goals better and respond to regional and global challenges more efficiently.
One of the central points on the agenda is the monitoring and reporting framework for the roadmap, a critical mechanism to track how MDBs are aligning their operations with evolving global priorities. The roadmap recommends a series of institutional and operational reforms that would enable MDBs to expand their impact through enhanced capital adequacy, greater responsiveness, and improved collaboration across financial institutions.
