Summit for a New Global Financing Pact: African Development Bank head says MDBS should leverage IMF special drawing rights to fight Climate Change and push SDGS.

June 27, 2023 AELEX Admin 0 Comments

The head of the African Development Bank, Dr. Akinwumi Adesina on Thursday once again underscored the case for multilateral development banks (MDBs)to be allowed to leverage International Monetary Fund Special Drawing Rights. With an increased allocation, MDBs could crowd in much-needed resources for developing nations to fight climate change and fast-track the UN Sustainable Development Goals, he argued. Adesina said: “The MDBs are leveraging machines. They can leverage the SDR’s by three to four times. So that leverage is very important to have.” Read more.

Leave a Reply:

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.