Multilateral Development Banks (MDBs) are stepping up their support for refugees and people affected by forced displacement, including hosting communities, across a wide range of sectors and policy instruments.
The pledges were made by the African Development Bank, the Asian Development Bank, the European Bank for Reconstruction and Development, the European Investment Bank, the Inter-American Development Bank, the Islamic Development Bank and the World Bank Group.
“Forced displacement is not only a humanitarian issue, but also a developmental issue which calls for holistic, inclusive and durable solutions,”said Yero Baldeh, Director of the Transition States Coordination Office at the African Development Bank.
“This includes supporting our regional member countries in the prevention of forced displacement by addressing drivers of fragility and building resilience in Africa as well as significantly expanding livelihood opportunities in rural and urban areas”,
He was speaking during the Global Refugee Forum, being held from 16 to 18 December in Geneva, Switzerland.
“Fostering stronger strategic partnerships in this regard is absolutely crucial, which was also highlighted by President Adesina during the Aswan Forum for Sustainable Peace and Development last week,” Baldeh said.
More than 70 million people are forcibly displaced globally, with African countries hosting about 8 million refugees and 16 million Internally Displaced Persons (IDPs). In order to help resolve these often times protracted situations, in December 2019, African Development Fund (ADF) donors committed $7.6 billion to help address fragility, build resilience and stimulate inclusive growth in 37 African countries. The ADF is the concessional window of the African Development Bank Group.
The MDB Coordination Platform on Economic Migration and Forced Displacement is strengthening regional, national and local coordination, and targeted programming in order to advance socio-economic and climate resilience, women empowerment, and the creation of decent jobs, particularly for the youth, to mention a few of the core areas.
The MDBs will also promote and support the essential contribution of the private sector to developing sustainable and inclusive programs with refugees and host communities.
The Global Compact on Refugees is a framework to ensure more predictable and equitable sharing of responsibility. The MDBs acknowledged the importance of the Compact as a key enabler to help achieve the United Nations’ Sustainable Development Goals (SDGs).