News about development finance

Heads of the Multilateral Development Banks (MDBs) Group met at the Asian Development Bank (ADB) headquarters in Manila on October 17, 2026, the group's first meeting in the Philippines, hosted by ADB as 2026 Chair. ADB President Masato Kanda said conflict, economic uncertainty, high debt, inflation and disasters are pressuring members. The Heads reaffirmed readiness to provide timely financial and analytical support, and welcomed progress in mobilizing private capital and joint action on jobs, nature, climate, water, critical minerals and artificial intelligence. The Chair role will pass to the European Investment Bank Group in December.