In Short : The Asian Development Bank has convened the first 2026 meeting of the Heads of Multilateral Development Banks (MDBs) Group as its new chair, setting priorities for stronger collaboration and collective action among major global development finance institutions. Leaders reaffirmed commitments to mobilizing capital, enhancing financing capacity, and addressing shared priorities like AI, water security, critical minerals, and nature.
In Detail : MANILA, PHILIPPINES — The Asian Development Bank (ADB) today convened the first 2026 meeting of the Heads of Multilateral Development Banks (MDBs) Group, marking the start of ADB’s chairship. Held virtually, the meeting brought together leaders of major multilateral development institutions to reflect on the global economic and development landscape and to reaffirm their commitment to coordinated action in support of sustainable development.
“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 efforts throughout 2026 to crowd in private capital, expand MDB financing capacity, strengthen institutional collaboration and delivery, and increase joint action on select development issues such as jobs, artificial intelligence, water, critical minerals, and nature.
The Heads of MDB Group includes the African Development Bank Group, Asian Development Bank, Asian Infrastructure Investment Bank, Council of Europe Development Bank, European Bank for Reconstruction and Development, European Investment Bank, Inter-American Development Bank, Islamic Development Bank, New Development Bank, and the World Bank Group. The International Monetary Fund also participates in the Heads discussions.
