MULTILATERAL DEVELOPMENT BANKS AND THE INFRASTRUCTURE GAP

Anthony H Rowley

Chapter 12 in Foundations of the Future:The Global Battle for Infrastructure, 2020, pp 130-148 from World Scientific Publishing Co. Pte. Ltd.

Abstract: If multilateral development banks (or MDBs as they are often known) did not exist, they would need to be invented. The fact is, of course, that they do exist, but they are not being used fully for one of the primary purposes they were designed for, and that is the provision of infrastructure. There are no fewer than 25 global, regional, or sub-regional MDBs throughout the world plus a couple of 100 smaller national development banks (Prizzon & Engen, 2018). The problem is that, despite being structured specifically as “banks” and not simply as development “agencies,” these unique institutions are expected to deal with myriad issues ranging from health and welfare to education and environmental policies with dozens of other tasks thrown in. They have been relegated to the role of secondary players in infrastructure, whereas they were designed originally to act as principals…

Keywords: Infrastructure; Battle; Belt and Road; BRI; Connectivity; AIIB. ADB. MDBs. Financing Gap; Poverty; Strategic; Logistics; Great Game; China; United States; Europe; Asia; Disasters; Environment; Climate Change; Engineering; Highways; Railways; Communications; Energy; Water; India; Australia; AAGC; Trilateral Partnership; SDGs; Sustainable Investment; Corruption (search for similar items in EconPapers)
JEL-codes: H54 O1 O18 (search for similar items in EconPapers)
Date: 2020
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