Multilateral Development Banks

Multilateral Development Banks for UPSC Mains GS Paper 3 : Current Affairs in Economy Watch

On 20th April, 2024, the leaders of 10 multilateral development banks (MDBs) announced joint steps to work more effectively as a system and increase the impact and scale of their work to tackle urgent development challenges.

About MDBs

  • Multilateral development banks (MDBs) provide financial assistance to developing countries in order to promote economic and social development.
  • The MDBs fund primarily large infrastructure and other development projects and provide budgetary support to governments. The MDBs provide non-concessional financial assistance to governments of middle-income countries, private sector firms in developing ....
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