Under the Indian Presidency, the G20 tasked N.K. Singh and Larry Summers to convene an independent expert group (IEG) to recommend how to strengthen multilateral development banks and address the shared global challenges of the 21st century (disclosure: we were both part of the Secretariat supporting the group). Volume 1 and Volume 2 of the IEG’s report have been welcomed by G20 Finance Ministers meeting at Marrakech, as well as by multilateral development banks (MDBs) themselves.