African beneficiaries of the activities of MDBs urgently need a scaling-up of capital and an acceleration of its deployment towards their
NDCs. It is within the gift of MDBs’ shareholders to use their privileged position to be able to directly influence the public good mandates
and operating models of MDBs. The support of their Heads of State can drive the opportunity for change. As such, Heads of State and MDB
shareholders can institutionalize the joint commitments already made by MDBs2 towards this effort and mobilize private capital, which is
critical to delivering globally equitable outcomes for beneficiaries on NDCs, including in Africa.
To increase the speed, scale and efficiency of mobilizing and deploying capital at scale, one governance and four operational
recommendations are set out within this document and summarized here:
1. Update MDBs’ purpose and governing charter documents via a special resolution, enacted by MDB shareholders, to recognize
the ongoing climate emergency and the crucial role that MDBs play in taking action to help mitigate and adapt to it.
2. Set targets for climate finance mobilization by MDBs, expressed as a proportion of beneficiary NDCs. Monitor performance
against these targets and link these to incentivization structures.
