The EIB has joined fellow multilateral development banks (MDBs) in stepping up their commitment to supporting refugees and those affected by forced displacement, as well as host communities, with targeted financing across a wide range of sectors and policy instruments.
During the Global Refugee Forum held for the first time from 16-18 December in Geneva, MDBs, including 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, affirmed their commitment to supporting the Global Compact on Refugees developed by the United Nations High Commissioner for Refugees(UNHCR) and agreed to by United Nations member states and other relevant stakeholders.
Through their coordination platform on economic migration and forced dispacement, currently chaired by the EBRD, these MDBs are seeking to strengthen operational coordination and knowledge-sharing to enhance their cooperation with other partners.
MDBs will promote and support the essential contribution of the private sector to developing sustainable and inclusive approaches to their work with refugees and host communities. They will enhance the participation of the private sector as a source of employment opportunities and a means to develop sustainable skills.
The Global Compact on Refugees is a framework for more predictable and equitable sharing of responsibility. It provides a blueprint for governments, international organisations and other stakeholders to ensure that host communities get the necessary support so that refugees can lead productive lives.
This week in Geneva, MDBs have acknowledged the importance of the Global Compact on Refugees as a key enabler and accelerator towards the achievement of the United Nations’ Sustainable Development Goals and the importance of the protection mandate of the UNHCR.