Washington DC | April 11, 2023
9:00-10:30 AM EDT
Background
On the occasion of the World Bank – IMF Spring Meetings held in Washington DC, ORF America convened a diverse group of senior policy makers and thought leaders from the government, private sector and civil society to discuss the future roadmap of the multilateral development banks. The discussion focused on the three defining issues facing the MDBs and the broader development finance community: digitalization, climate and the debt crisis.
Discussion
The event featured a keynote from Nandan Nilekani, a technology pioneer and visionary leader of India’s digital transformation, followed by a panel of experts with deep knowledge, experience and insights on the changing needs and roles of the global development finance institutions.
The participants highlighted that development finance institutions are falling behind in addressing the world’s most pressing challenges. The multiple crises affecting countries today – food, energy, climate, debt, as well as human development – require both increased resources and appropriate solutions. From the government’s perspective, prioritizing and balancing investments in health, education, urbanization and public infrastructure – both physical and digital – is becoming increasingly difficult especially with the donors’ emphasis on integrating climate action in the development agenda. Countries need to invest in digital infrastructure financed by both public and private sectors, which are often not harmonized and prioritized. Apart from the capacity to manage these crises and transitions, there is a tradeoff between more resources from MDBs and the cost at which those resources are made available to developing countries. The participants and interventions from the audience emphasized that a greater focus on borrower needs – and not only donor priorities – has to guide the future MDB agenda.
This in-person program featured the following Speakers:
Welcome Remarks
Dhruva Jaishankar, Executive Director ORF America
Keynote
Nandan Nilekani, Co-founder of Infosys and Founding Chairperson of the Unique ID Authority of India (Aadhaar).
Panel Discussion
Gabriel Yorio, Vice Minister of Finance and Public Credit, Government of Mexico
Heba Shams, Vice President, Mastercard Policy Center for the Digital Economy
Claudio Puty, Secretary of Planning and Administration, City of Belem, Brazil
Scott Morris, Senior Fellow, Center for Global Development
Anit Mukherjee, Senior Fellow, ORF America (Moderator)
Concluding Remarks
Udaibir Das, Distinguished Fellow, ORF America
