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MDBs announce new coordination platform to accelerate support for economic migration, forced displacement

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Washington, US, April 22 (Infosplusgabon) - Seven Multilateral Development Banks (MDBs) launched a new platform to enhance their collaboration on economic migration and forced displacement on Friday on the margins of the International Monetary Fund (IMF)-World Bank Group Spring Meetings taking place in Washington, D.C.

 

According to a World Bank press statement, the platform will advance strategic dialogue and operational coordination to maximize the impact of MDBs’ growing engagement in these two areas.

 

While economic migration and forced displacement are distinct issues and require a different response, each has emerged as a complex development challenge.

 

There are an estimated 250 million international economic migrants worldwide, and roughly 66 million people are forcibly displaced as refugees or internally displaced persons fleeing conflict and persecution.

 

“The new platform”, said the statement, “represents a strong effort by MDBs to enhance cooperation to address these challenges, in response to a request made by the G7. After presenting a strategic framework for action at the G7 meeting in Bari, Italy, in May 2017, MDBs worked closely together to prepare specific initiatives under the new platform.”

 

Since the platform was first announced in October 2017, MDB representatives have met several times to discuss respective approaches, results, and challenges. Four priority areas where there is high potential to increase impact have been identified to serve as the focus of the platform in the initial phase.

 

These are: refining the common framework for MDB engagement; advancing cooperation on knowledge, evidence, and data; ensuring strategic coordination on priority topics in coordination with governments, UN, and other partners; and deploying better-targeted instruments and products.

 

The platform launch was attended by representatives of all participating MDBs – African Development Bank, Asian Development Bank, World Bank Group, European Bank for Reconstruction and Development, European Investment Bank, Inter-American Development Bank, Islamic Development Bank, World Bank Group – as well as G7 deputies and strategic partners including the European Commission and UNHCR.

 

President, African Development Bank (AfDB) President Akinwumi Adesina said: “Building resilience for fragile communities is critical to reducing economic, social and political exclusion. People may live in fragile communities, but they have hope and aspirations that cannot be extinguished.

 

"The African Development Bank has been investing heavily in fragile states in Africa, helping to build education, strengthen institution, and provide critical infrastructure, especially electricity, water and sanitation. We are delighted with this new platform which will allow us to work with other multilateral development banks, using fragility lenses to drive inclusive development.”

 

Meanwhile,World Bank Chief Executive Officer Kristalina Georgieva said, “The world is becoming richer and more fragile at the same time. We at the World Bank Group are committed to supporting displaced people, migrants, and the communities that host them, and to multiplying our impact by working more closely with other multilateral institutions.”

 

FIN/INFOSPLUSGABON/BNK/GABON 2018

 

 

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