Prospects of the Multilateral Cooperation Center for Development Finance (MCDF) to catalyse infrastructure financing

IF 1.4 3区社会学 Q1 AREA STUDIES

Asia & the Pacific Policy Studies Pub Date : 2022-04-27 DOI:10.1002/app5.345

Christoph Nedopil, Mathias Lund Larsen, Mengdi Yue, Yao Wang

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Abstract

Initiated in 2017 and formally established in 2020, the Multilateral Cooperation Center for Development Finance (MCDF) is the latest addition to the development finance landscape in Asia. This article provides an in-depth analysis of MCDFʼs potential to offer additionality in development finance and its political legitimacy by comparing it to 18 development finance and capacity-building organisations. The article finds that while the MCDF contributes to closing the substantial infrastructure financing gap in Asia, it risks overlapping with existing initiatives to such a degree that it may become an inefficient use of resources while lacking legitimacy as a multilateral organisation due to its unclear relationship with Chinaʼs Belt and Road Initiative. From this outset, and given the climate mandates of its multilateral development bank members, this article finds that if the MCDF focuses specifically on green and climate finance, it could carve out an area where it can become a much-needed new platform for project development and coordination.

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发展金融多边合作中心促进基础设施融资的前景

亚洲发展金融多边合作中心于2017年启动，2020年正式成立，是亚洲发展金融领域的新成员。本文通过将MCDF与18个发展融资和能力建设组织进行比较，深入分析了MCDF在发展融资方面提供额外服务的潜力及其政治合法性。文章发现，虽然MCDF有助于缩小亚洲巨大的基础设施融资缺口，但它与现有倡议重叠的风险如此之大，以至于它可能成为资源的低效使用，同时由于其与中国“一带一路”倡议的关系不明确，缺乏作为多边组织的合法性。从一开始，考虑到其多边开发银行成员的气候任务，本文发现，如果MCDF专门关注绿色和气候融资，它可以开辟一个领域，成为一个急需的项目开发和协调的新平台。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Asia & the Pacific Policy Studies AREA STUDIES-

CiteScore

3.20

自引率

5.30%

发文量

审稿时长

6 weeks

期刊介绍： Asia & the Pacific Policy Studies is the flagship journal of the Crawford School of Public Policy at The Australian National University. It is a peer-reviewed journal that targets research in policy studies in Australia, Asia and the Pacific, across a discipline focus that includes economics, political science, governance, development and the environment. Specific themes of recent interest include health and education, aid, migration, inequality, poverty reduction, energy, climate and the environment, food policy, public administration, the role of the private sector in public policy, trade, foreign policy, natural resource management and development policy. Papers on a range of topics that speak to various disciplines, the region and policy makers are encouraged. The goal of the journal is to break down barriers across disciplines, and generate policy impact. Submissions will be reviewed on the basis of content, policy relevance and readability.