BAKU, Azerbaijan, Feb. 26. Leaders of the world’s major multilateral development banks (MDBs) have agreed to intensify efforts to expand financing capacity and coordinate action on key global development priorities, the Asian Development Bank (ADB) said, Trend reports.
The announcement came at the first 2026 meeting of the MDB Heads Group, convened virtually as ADB assumed its chairship. The meeting brought together leaders of institutions including the African Development Bank, European Investment Bank, Inter-American Development Bank, Islamic Development Bank, New Development Bank, and the World Bank Group, with participation from the International Monetary Fund.
“At a time of growing global complexity, MDB coordination matters more than ever. We reaffirmed a common direction: bringing together our combined institutional weight to help unlock scale, demonstrate impact, and shift outcomes,” said ADB President Masato Kanda. “As Chair, ADB will work to ensure that our process remains relevant, pragmatic, and responsive to shareholder expectations, while firmly connecting regional development needs to the evolving global financing architecture.”
The MDB heads agreed to focus in 2026 on mobilizing private capital, expanding MDB financing capacity, enhancing institutional collaboration, and increasing joint action on priority development issues including jobs, artificial intelligence, water, critical minerals, and nature-based solutions.