The independent expert group on strengthening multilateral (MDBs) has proposed the launch of a process to ramp up new Equity of all these agencies by $100 billion as part of the overall strategy to triple annual commitments by 2030.
The panel co-chaired by former US treasury secretaryLarry Summersand 15th Finance Commission chairman N K Singh will share its report at the meeting of G20 finance ministers inGandhinagarnext week.
The first set of the recommendations in its report focuses on “The Triple Agenda” of trebling financing by 2030, setting up a triple funding mechanism through a fund and setting a triple mandate for MDBs that includes eliminating POVERTY, boosting shared prosperity, and contributing to Global Public goods, especially Climate-change”>Climate Change.