Multilateral development banks find themselves swept up in two parallel waves of change. As bond issuers, they are having to deftly navigate capital markets that are still emerging from the end of years of historically low rates, being forced to call upon all their experience and sophistication as they fund across multiple markets. At the same time, with the pressure on to fill the huge gap in global development finance, these institutions are being asked to work out how to better use or expand their balance sheets and lend more — all while maintaining their precious credit ratings. GlobalCapital gathered some of the leading supranational issuers at a roundtable in New York City in May to discuss how best to deal with the challenges of this changing world.

There has never been so much momentum to reform the multilateral development banks. But most of the many avenues to expand their lending have run into difficulties. Jon Hay reports

For those hoping that the EU, with its swollen borrowing programme since the pandemic, could become a common European safe asset, the wait may take a little longer as the issuer works to establish itself as a sovereign-like entity and the bloc struggles to make progress on Capital Markets Union. Addison Gong reports

The SSA bond market could benefit from an early summer

Some bankers were surprised, others not, but all expect a reduced EU funding programme for 2024's second half

German issuer's return partly due to continuing volatility caused by the French election