Multilateral Development Bank Leaders Meet in Manila to Address Global Financing Challenges

The Heads of Multilateral Development Banks (MDBs) Group convened at the Asian Development Bank (ADB) headquarters in Manila on October 17, 2026, to discuss strategies for delivering increased financing and impact for developing members facing rising global challenges. The gathering marked the group's first meeting held in the Philippines, hosted by the ADB in its role as the 2026 Chair.

During the meeting, leaders addressed ongoing pressures affecting member countries, including conflict, economic uncertainty, elevated debt, inflation, and disasters. ADB President and current MDB Heads Group Chair Masato Kanda stated that the Manila meeting served as an opportunity to translate shared commitments into practical action to help members protect development gains, draw investment, and build economic resilience.

In a joint statement, the bank heads reaffirmed their intention to provide timely financial and analytical assistance to safeguard vulnerable populations and support investments aimed at job creation and long-term growth. The leaders also noted progress made this year on working as a system to mobilize private capital and collaborating on shared priorities such as climate, nature, water, artificial intelligence, critical minerals, and institutional efficiency.

The MDB Heads Group comprises 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, with the International Monetary Fund participating in discussions. The ADB is scheduled to hand over the group's chairmanship to the European Investment Bank Group in December.

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