Multilateral Development Banks Driving Green Transition in Emerging Markets

Abstract The study examines how green bonds support low-carbon growth and Sustainable Development Goals in emerging economies, using Morocco as a case study to explore strategies for advancing green finance. It applies a risk-resilience framework and strategic thematic analysis to investigate institutional dynamics shaping green bond markets, focusing on the role of multilateral development banks (MDBs) in supporting national issuers and addressing market challenges. The Moroccan case highlights opportunities and constraints for domestic actors engaging with international green finance frameworks. The findings provide practical insights for policymakers and financial institutions in developing regions to enhance the structure and impact of sustainable finance. [The full article is published in World Economics, Vol. 26, No. 4 (2025), and is available on the journal website.This DOI refers to this deposited record and its metadata, not to the full published version.]