The Multilateral Cooperation Center for Development Finance (MCDF) is a multilateral financial mechanism designed to promote high-quality infrastructure and connectivity investments in developing countries through partnerships. Together with our partners, we are committed to adopting International Financial Institution (IFI) standards in our projects. Established in 2020 MCDF will support developing countries, IFIs and new partners in addressing quality and sustainability challenges impacting cross-border infrastructure and connectivity within the scope of their efforts to implement the G20 Quality Infrastructure Principles.
In line with the G20 Eminent Persons Group recommendations, the MCDF will leverage the potential for closer collaboration among Multilateral Development Banks and other partners. The MCDF portfolio aims to bridge connectivity gaps building on planned and ongoing global, regional, and sectoral initiatives. As a multilateral finance facility, MCDF will complement rather than compete with other mechanisms sharing our vision to support the implementation of the G20 Quality Infrastructure Principles, the Sustainable Development Goals (SDGs), and Paris Climate Agreement.
MCDF will boost high quality connectivity investments through:
- Wider application of the Accredited IFI Standards by New Partners of the IFIs, through partnership, capacity building and information sharing by, co-financing with, and technical assistance from, the accredited IFI Implementing Partners;
- Increased country-level application and enforcement of the Accredited IFI Standards through capacity building supported by the accredited IFI Implementing Partners;
- Increased financing of connectivity projects from, and mobilized by, the accredited IFI Implementing Partners.
At a time when the global community is gearing up for sustainable recovery from the pandemic, MCDF is uniquely positioned as a one-stop shop for quality infrastructure, combining information sharing, capacity building and project preparation services. MCDF works at the intersection of the following principles:
- Connectivity: Linking communities, economies and nations through energy, transport, ICT and water networks across countries, through both ‘hard’ and ‘soft’ infrastructure.
- Quality: Promoting accredited IFI standards for infrastructure on debt sustainability; environmental and social safeguards; standards on fossil fuel investments and promoting clean energy; fraud and corruption; procurement; and transparency and disclosure of information.
- Partnership: Facilitating new partnerships between developing country governments, IFIs and emerging market financiers that can drive quality sustainable investments for connectivity.