Kathmandu — Leaders of the world’s major Multilateral Development Banks (MDBs) convened at the Asian Development Bank (ADB) headquarters on October 17 to accelerate joint actions aimed at helping developing nations navigate compounding global crises.
The historic gathering marked the MDB Heads Group’s first-ever meeting in the Philippines, hosted by the ADB in its role as the 2026 Chair.
Faced with mounting pressures—including geopolitical conflict, macroeconomic instability, unsustainable debt, elevated inflation, and severe climate-related disasters—the Heads reaffirmed their joint commitment to deliver timely financial and analytical support to protect vulnerable populations, mobilize private investment, and foster long-term economic resilience.
“Conflict, economic uncertainty, high debt, inflation, and disasters are placing growing pressure on our members and making development harder,” said ADB President Masato Kanda, 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.”
In a joint statement issued following the meeting, MDB leaders highlighted key achievements and future focus areas to maximize system-wide efficiency and impact at scale:
The meeting also marked the upcoming conclusion of the ADB’s leadership tenure. The Chairmanship of the Heads of MDBs Group will officially pass from the Asian Development Bank to the European Investment Bank (EIB) Group in December 2026.
