Multilateralism constitutes an institutional framework designed to uphold a rules-based international order, including the promotion of open and non-discriminatory trade. It reflects a normative commitment to peace and to the resolution of disputes through consultation, negotiation, and legal mechanisms rather than coercion or the unilateral exercise of power. More broadly, multilateralism presupposes that cooperative engagement is the default modality of interstate relations.

At the recent Annual Bank Conference on Development Economics (ABCDE) held last July in Washington, DC, the discussions highlighted how the era of a single, universal rules-based order is giving way to intertwined groupings and regional blocks. That shift raises both risks and opportunities for development. To keep development gains on track—especially in Africa—countries and institutions will need to combine global norms with regional and “pathfinder/minilateral” coalitions, and they will need multilateral development banks to finance, de-risk, and coordinate solutions that individual actors cannot deliver alone. Reviving and adapting multilateralism to today’s realities will require protecting open markets, fostering regional and flexible coalitions, and building incentives that elicit cooperation. Therefore, development can continue to thrive.

A revamped multilateralism is emerging—more standardized, co-financed, and incentive-driven. World Bank Group and the African Development Bank partnerships like Mission 300 or the Lobito Corridor show how to convert cross-country cooperation into scale, with concrete benefits for African households and firms. What comes next is execution: speed up delivery, deepen private capital mobilization, and apply targeted incentives to drive cross-border impact.

In this fireside chat, the two panelists will examine the most pressing obstacles to effective multilateral cooperation today, ranging from geopolitical fragmentation and eroding trust to debt vulnerabilities, and widening inequality, and explore practical pathways to overcome them. The discussion will also consider how governance reforms, innovative financing, and stronger regional platforms can restore confidence and deliver collective solutions at scale.

A particular focus will be the role of multilateral development banks in revitalizing multilateralism: How capital adequacy reforms, balance-sheet optimization, country-led platforms, and co-financing with the private sector can crowd in resources, manage risk, and accelerate progress toward faster, more inclusive growth and the SDGs. The conversation will further assess how the changing landscape of multilateralism—marked by new coalitions, South–South cooperation, and a growing role for regional institutions—is reshaping opportunities and risks for Africa, including implications for debt sustainability, digital transformation, and regional integration.