Reporting and comment by Mathew Carr
July 25, 2023: It’s great the G20 nations are being held to account for a tripling in the capacity of the multilateral development banks to $390 billion per year by 2030, which will help save the climate and nature.
That will support the world to achieve sustainable development goals, if it happens.
Using this money cleverly could derisk projects and help “crowd in” five times more from the private sector and philanthropists. That would be $1.95 trillion per year, heading toward the levels needed.
The problem is that the G20 countries do not seem to be getting along that well (at least in public with the US demonizing emerging countries and China calling out the US on multiple fronts, for instance — see tweets in notes below plus full report).
Here is one accountability measure:
There is also an attempt at G20 level to link macro measures with micro ones and the IMF framework. That demonstrates some level of joined-up thinking, yet it’s not clear to me that the BRICS countries (for instance) are on board with giving IMF even more influence.
Notes
