Global Refugee Forum: Multilateral Development Banks vow to support forcibly displaced people

The Multilateral Development Banks are set to support for refugees and people affected by forced displacement, including hosting communities, across a wide range of sectors and policy instruments.

The African Development Bank, the European Investment Bank, the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank, the Islamic Development Bank and the World Bank Group have made the pledges.

“Forced displacement is not only a humanitarian issue, but also a developmental issue which calls for holistic, inclusive and durable solutions. 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,” Yero Baldeh, Director of the Transition States Coordination Office at the African Development Bank opined.

“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,” Yero Baldeh said.

Over 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, alleviate the problem, in December 2019, the African Development Fund donors committed USD 7.6 billion to help address fragility, build resilience and stimulate inclusive growth in 37 African countries. The African Development Fund is the concessional window of the African Development Bank Group.