Changing Bretton Woods Institutions: How Non-state and Quasi-state Actors can help drive the Global Development Agenda

Improving global governance
Posted Nov 02, 2022 | Atlantic Council

With the growing gap in sustainable finance in developing countries, the Bretton Woods institutions - the World Bank and the IMF - will not be sufficient to tackle the issues threatening global development, notes Nisha Narayanan in his article for the Atlantic Council. Globalization has not only produced technological and financial innovation, but has resulted in an increasingly connected world, leading to the emergence of more relevant actors on the global development stage. The author discusses the increasingly influential role of non-state and quasi-public actors in global development and sustainable finance, specifically through the rising level of sustainable investments in emerging and developing markets. He suggests that integrating these actors into streamlined thematic initiatives and consultations by the Bretton Woods institutions can strengthen efforts to meet the Sustainable Development Goals in an increasingly high-risk environment.


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