Eurasian Integration Yearbook 2012

Ella Baybikova. “Multilateral and Regional Development Banks in Northernand Central Eurasia: Overview of Activities in 2011”2011: Data and ReviewsImproving the Organisational Effectivenessof Development Banks in 2011The leaders of 31 development finance institutions joined the CorporateGovernance Development Framework, a common set of guidelines created tosupport sustainable economic development in emerging markets. Through theFramework, the signatories hope to answer the G-20’s call for developmentfinance institutions to strengthen their coordination and ensure accomplishmentof certain key institutional reforms, such as an increased commitment totransparency, accountability, and good corporate governance, as well asraise awareness, both at the private and public sector levels. Each institutionthat adopts this Framework undertake to provide training to ensure capacitybuilding and share knowledge on corporate governance, collaborate with othersignatories to share experiences and resources on training and implementation,and report annually on the implementation of the Framework. The MDBs areexpected to implement the Framework at their own pace and at a level that suitstheir institutions.Nearly 2,000 senior officials from over 100 countries attended the threedayFourth High-Level Forum on Aid Effectiveness in Busan, South Korea. Inpreparation for the forum, the multilateral development banks, including theWB, EBRD, the Inter-American Development Bank, ADB and IsDB, prepared aJoint Note that highlighted their performance on aid effectiveness, transparencyand accountability matters and what needs to be done in this regard in thefuture. Similarly, the members of the Coordination Group jointly prepared aStatement of Resolve to highlight the improvement of foreign aid effectivenessand underline the Group’s readiness to agree on a new monitoring frameworkthat will routinely assess aid delivery and performance at the country level.Moreover, MDBs deepened their bilateral interaction in several spheres of theiractivities.The World Bank and the EDB signed the Implementation Plan for theFramework Cooperation Agreement between the WB and the EDB for 2011-2013 that foresees collaboration between the World Bank and EDB in thefollowing key areas: strengthening of the analysis of economic situation in theEurAsEC member countries; joint preparation and implementation of projectsin infrastructure, energy and government institutions development; promotingregional collaboration in trade, investment and labour migration to the benefitof the client countries and so on. Within the framework of the ImplementationPlan, the WB and the EDB held their first joint conference on economicdevelopments and prospects of EurAsEC countries in December 2011 in Almaty.The conference focused on the impact of current global developments on theEurAsEC countries, integration trends in the CIS and the EurAsEC, and issues ofemployment and migration in the region.Eurasian Development Bank319