Coalition of MDBs launches new co-financing platform for development scale

A coalition of ten MDBs today launched a new co-financing platform that will enable them to channel additional capital for development scale and impact.

The Global Collaborative Co-Financing Platform will consist of:

The digital co-financing portal that will create a secure platform for registered co-financiers to share project pipelines. Hosted at the World Bank, this tool will increase efficiency and transparency and make it easier for MDBs to share information and identify co-financing opportunities.

The Co-Financing Forum, which will provide a space for participants to discuss co-financing opportunities, best practices and common issues, and will support ongoing efforts to coordinate policies to reduce burdens on partner countries.

For countries, the new platform will reduce administrative burdens and transaction costs and enable better coordinated financing in line with their priorities, resulting in greater development impact.

By leveraging partnerships and promoting transparency, the platform will enable MDBs, partner agencies and client countries to address global challenges more effectively and efficiently.

Strengthening partnerships is an important part of the World Bank Group’s new playbook aimed at increasing impact. Co-financing has been identified as an effective way to improve strategic alignment, secure concessional resources, promote efficiency and strengthen coordination.

MDBs that will be part of the new co-financing platform include:

African Development Bank

Asian Development Bank

Asian Infrastructure Investment Bank

Development Bank of the Council of Europe

European Bank for Reconstruction and Development

European Investment Bank

Inter-American Development Bank

Islamic Development Bank

New Development Bank

World Bank Group