MDB heads strengthen joint action in Manila to deliver more financing and greater impact

The Heads of Multilateral Development Banks (MDBs) Group met at the Asian Development Bank (ADB) headquarters in Manila today to discuss how to deliver more financing and greater impact to support developing members as they face mounting challenges. It was the Group’s first-ever meeting in the Philippines, hosted by ADB as its 2026 Chair.

“Conflict, economic uncertainty, high debt, inflation and disasters are placing growing pressure on our members and making development harder,” said ADB President Masato Kanda, host and current Chair of the MDB Heads Group. “Our meeting in Manila was an opportunity to turn shared commitments into practical action, so we can help members protect their development gains, attract investment, and build more resilient economies.”

Against a backdrop of disasters, conflicts, difficult macroeconomic conditions, and constrained fiscal space, the Heads reaffirmed MDBs’ readiness to provide timely financial and analytical support to protect vulnerable populations and sustain investment in jobs and resilient long-term growth.

In a joint statement, the Heads welcomed the significant progress achieved this year working as a system to mobilize private capital, and on joint actions to advance jobs, nature, climate, water, critical minerals, artificial intelligence and other common development priorities, and on efforts to enhance system efficiency for greater impact at scale, in line with each institution’s mandate, strategy and operational model.

The role of Chair of the Heads of MDBs Group will be passed in December from ADB to the European Investment Bank Group.

The Heads of MDBs 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 Group, Inter-American Development Bank Group, Islamic Development Bank, New Development Bank, and the World Bank Group. The International Monetary Fund also participates in the Heads discussions.

Read the joint MDB Heads Statement here.