chapter  5
12 Pages

The role of multilateral institutions

ByAgnes Kiss, Gonzalo Castro, Kenneth Newcombe

The World Bank and other multilateral development banks (MDBs) are international organizations whose mission is to alleviate poverty by supporting and spurring economic development. In the past few decades, environmental and other aspects of sustainability have become important explicit development goals. This is reflected, for example, in the mission statement of The World Bank: ‘to fight poverty with passion and professionalism. . . to help people help themselves and their environment, with lasting results’.