• Tuesday 18 Oct 2016
  • The New Urban Agenda and the role of the Multilateral Development Banks

    Urban Stage
    Venue: Urban Stage
    Lead Organization:
    • World Bank.
    Partner Organizations:
    • Africa Development Bank (AfDB),
    • Asia Development Bank (ADB),
    • European Bank For Reconstruction And Development ( EBRD),
    • European Investment Bank (EIB),
    • Inter-American Development Bank (IADB),
    • Islamic Development Bank (IsDB ).

    Acting as a group, the Multilateral Development Banks (MDBs) have historically played a very important role in development. Through their work on country level alignment, harmonization of policies procedures and practices, and their leadership in developing an agenda on managing for development results, they are a major stakeholder to strengthen coherence in development cooperation. Using their joint convening power MDBs are increasingly reaching out to other development partners.  More recently, Multilateral Development Banks are playing a strategic role in the 2030 sustainable Development Agenda.  With joint statements – among others - on Climate Finance and Forced Displacement  Crisis, the MDBs have outlined coordinated action contributing to the implementation of global development agendas. In the context of joint statements the MDB’s bring together a wide ranging and deep expertise, deployment of finance and technical assistance, cooperating even more with each other and working in partnership with national institutions and countries and also with public and private organizations.

    The New Urban Agenda provides an opportunity for the MDBs to once again outline their role towards the implementation of transformational development actions.  The Habitat III conference provides a unique forum to discuss how urban commitments align with the MDB joint commitments made in Rio+20, the SDG process, and COP21.  In this context, the main theme of the proposed networking event responds  to the call to ensure MDBs contribute in the implementation of the New Urban Agenda in a coordinated and efficient manner.

    The zero draft of the New Urban Agenda calls  on multilateral international and regional organizations, financial institutions, and development partners engaged in urban development to enhance coordination and partnership of their strategies and to apply an integrated approach to sustainable urbanization and eradicating poverty. The zero draft also places emphasis on the role of national urbanization policy as well as engagement of local authorities and city-to-city cooperation. In this context, the New Urban Agenda calls on international and regional financial institutions and development banks to incorporate and mainstream the recommendations in their urban development strategies, especially when providing financial support and loans for integrated urban development to developing countries.