MDBs Launch New Platform to Coordinate Support for Economic Migration and Forced Displacement

Humanitarian Response : Financing Mechanisms
MDBs Launch New Platform to Coordinate Support for Economic Migration and Forced Displacement
News Release
WASHINGTON, April 20, 2018 — Seven Multilateral Development Banks (MDBs) launched a new platform to enhance their collaboration on economic migration and forced displacement today on the margins of the IMF-World Bank Group Spring Meetings. 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 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.

Cooperation is ongoing. 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:
:: 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.

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