Chris Humphrey appointed to G20 commission
NADEL senior scientist Chris Humphrey has been named to join a G20 commission to review the financial policies of the World Bank and other multilateral development banks.
Chris Humphrey, who has written extensively on financial policies of multilateral development banks (MDBs), will join 12 other experts to provide recommendations to the G20 on whether and how MDBs can increase the support they provide to low- and middle-income countries without undermining their financial strength.
Can MDBs lend more with their existing capital, or do they need more capital from their country shareholders?
The financial capacity of MDBs has become a critical topic in the world’s efforts to face the effects of the Covid-19 crisis, get back on track to achieve the 2030 Sustainable Development Goals (SDGs) and face the increasingly urgent need for sustainable infrastructure to mitigate climate change. G20 nations are agreed on the need for greater MDB effort, but are uncertain whether MDBs are getting the most out of the shareholder capital they have contributed. This commission – the first of its kind since the World Bank was founded at Bretton Woods in 1944 – will seek to answer that question. It is due to complete its work in early 2022.
Switzerland is a shareholder of the World Bank and five other major MDBs, all of which will be included in the commission’s review.
Find the goals of the commission external pagehere. In March 2021, Chris wrote a blog post calling for the creation of such a commission, which can be read external pagehere.