Chapter 10: Development Effectiveness: The Role of Multilateral Development Banks and Their Evaluation: Reference and Insights for New Development Bank

Multilateral development banks (MDBs) are essential players in international development, and various parties are now questioning their role. While providing global public goods, MDBs are affected by their governance structures, lending countries, and borrowing countries. This chapter analyzes the role of MDBs from the perspective of development effectiveness, compares and contrasts the evaluation mechanisms of MDBs, and points out that MDBs should closely integrate their development objectives with their policy frameworks to develop corresponding evaluation indicators. Through evaluation, MDBs can control the project process and gradually achieve development goals, thus playing a more significant role in international development. It is suggested that the New Development Bank should design a sound evaluation system with flexibility and also need close cooperation with the existing MDBs. It will be an excellent way to improve the evaluation work efficiently and effectively if the objective country's relevant data and background materials can be shared among these MDBs.