Powerful global trends demand a wholesale rethinking of the system of international development assistance. A key issue is the future of concessional aid provided by multilateral development banks. What should be the future role of MDB concessional aid? And what is needed to maintain donor countries' support? In a rapidly changing global environment, there is still a strong case for maintaining MDB concessional aid. However, that case only holds provided a new approach is taken which adapts the roles of MDB aid to development lessons of the recent past and changing global conditions.
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