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Multilateral development banks (MDBs) are supranational financial institutions that support developing countries to help them achieve various goals. While the support is primarily financial, many MDBs have accumulated a good deal of experience, which allows them to propose non financial services too, such as policy advice, capacity building, technical assistance and training. MDBs are a key element in the multilateral development system. This wide-ranging remit, as well as the fact that MDBs are able to pursue public policy goals at minimal fiscal cost to member governments, explains the success of these institutions over the past 80 years, as well as their growing number: today, there are more than 20 MDBs around the world. Although their members, clients and goals may differ, MDBs share common characteristics, play similar roles, and conform broadly to the same institutional model. In the past decade, MDBs have been facing several challenges, both from within (legacy MDBs competing for relevance with other, newer MDBs) and outside their system (new needs and goals, such as contributing to the fight against climate change). Several countries, non-governmental organisations and think tanks have called for these banks to change in order to adapt to this new environment. Important discussions have been taking place among stakeholders. While discussions are ongoing, several MDBs are committed to reform.