, April 18 -- In a period of heightened global uncertainty, including the evolving situation in the Middle East, the Heads of Multilateral Development Banks (MDBs) has underscored the importance of close cooperation to support stability, safeguarding development progress, and responding to mounting pressures in their member economies.

MDB Heads - meeting held on Friday in Washington on the sidelines of the World Bank Group-International Monetary Fund Spring Meetings - noted that the impacts of current global developments are already being felt through higher energy costs, supply chain disruptions, and tighter financial conditions.

The Heads emphasised MDBs' readiness to deploy timely and effective support to help countries and clients m...