Luxembourg, April 16 -- Signed on the margins of the World Bank Group-IMF Spring Meetings in Washington, D.C., the agreement builds on existing bilateral arrangements among the three multilateral development banks (MDBs) and marks a further step in strengthening their cooperation, advancing the system-wide approach promoted under the G20 Roadmap for Better, Bigger and More Effective MDBs.The framework will make it easier for the three institutions to co-finance public sector projects outside the European Union by reducing duplication and streamlining administrative processes. Under the agreement, one institution can act as lead financier for each project, allowing the others to rely on its procedures for procurement and safeguards, hence re...