EFSD expert delivers a speech at the T20 inception conference, the G20 expert group on the topic of reforming the international financial structure

11.03.2024. EFSD expert Artem Levenkov took part in the inception conference of the T20, chaired by Brazil, which took place from 4 to 6 March as part of G20 events.

In his speech, Artem Levenkov noted that multilateral development banks have an increasingly important role to play in responding to current economic challenges. In particular, reform of MDBs is on the top of the agenda. It is estimated that MDBs should provide USD 260 billion in additional annual official financing to achieve the Sustainable Development Goals by 2030. This requires both more capital and a more efficient use of the MDBs' available resources and instruments, a reformed and strengthened structure and greater coordination among themselves, to increase the MDBs' lending capacity. Building upon previous work on the CAF review and strengthening MDBs during the Indonesian and Indian Presidencies, the Brazilian Presidency of the G20 aims to establish a Roadmap for a better, bigger, and more effective system of MDBs.

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In 2024, EFSD expert was selected as co-chair of the subgroup on reform of multilateral development banks (MDBs) of the working group on reforming the international financial architecture. The task of the subgroup is to aggregate and select, on a competitive basis, proposals from experts from different regions of the world on the topic of mobilizing the necessary resources to achieve the Sustainable Development Goals.

T20 provides support to the G20 agenda in the following areas: analytical support for the preparation of G20 decisions; providing independent advice; promoting international cooperation by hosting academic and expert discussions among participants from around the world; initiating discussions on issues that have not yet been discussed at the G20.

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