Multilateral development banks eye up to $400 billion more lending over 10 years

WASHINGTON (Reuters) – The Inter-American Development Bank on Saturday said leaders of 10 multilateral development banks committed to take action in five critical areas, including additional lending headroom totaling $300-400 billion over the next decade.

Following a retreat held in Washington at the IDB headquarters, on the sidelines of the International Monetary Fund and World Bank spring meetings, the MDBs said the agreed plan involves “joint steps to work more effectively as a system” to take action on climate change.

(Reporting by Marcela Ayres; editing by Dan Burns)