This report demonstrates that fragility, conflict and violence fit the classic definition of regional and global public goods, albeit negative public goods or public ‘bads’. Having established this definition, the report examines the comparative advantage of multilateral development banks which enable them to avoid many of the pitfalls encountered by other aid modalities.

Such advantages include: the avoidance of fragmented, small-scale projects; insulation from the political pressures that can cause volatility in aid flows; long-term country engagement, enabling them to support the institutional development that characterises the transition from fragility to resilience; and the use of country systems that strengthen local capacity.