In Conversation | Rebuilding Multilateralism - Energy Security Hub 2026 @BMW Foundation

Why It Matters

Treating development as a core security tool reshapes aid spending, curbs instability, and safeguards global economic growth, making multilateral cooperation essential for future prosperity.

Key Takeaways

• Development now central to security discussions at Munich Conference
• Global growth forecasts lowest since 1960, driving instability
• Cuts to UN funding risk reversing child mortality gains
• Development acts as preemptive strike, reducing conflict and migration
• Private sector investment crucial, but perceived risk hampers Africa funding

Summary

The Energy Security Hub 2026 panel featured Alexander De Croo, newly appointed UNDP Administrator and former Belgian prime minister, discussing the urgent need to rebuild multilateralism by integrating development into security strategies. He noted that at this year’s Munich Security Conference, development moved from a peripheral topic to a core element of the security agenda, reflecting a broader recognition that military tools alone cannot stabilize a volatile world.

De Croo highlighted several stark data points: World Bank and IMF growth forecasts are the weakest since the 1960s, child mortality—halved globally since 2000—rose again last year due to reduced vaccination funding, and the war in Ukraine has triggered worldwide food insecurity. He warned that austerity cuts to UN and public‑development budgets risk undoing decades of progress, especially for the most vulnerable.

Concrete examples underscored his argument. In Iraq, the return of four million internally displaced persons followed the reconstruction of schools, health services, and local governance. OECD figures show defense spending dwarfs diplomacy and development by a factor of seven, yet modest increases in the latter could act as a cost‑effective “first line of defense.” He also stressed that private‑sector capital is abundant but held back by perceived risk, particularly in Sub‑Saharan Africa, where real risk is lower than investors assume.

The implications are clear: policymakers must reframe development as a pre‑emptive security measure, protect and strategically deploy public funds, and create partnerships that lower perceived risk to unlock private investment. Failure to do so will exacerbate instability, migration flows, and economic slowdown, ultimately harming even the world’s wealthiest nations.

Original Description

In an era increasingly defined by great power competition and the return of "power politics," the architecture of international cooperation faces a critical stress test. This session explores the strategic necessity of multilateralism—not merely as an ideal, but as a pragmatic tool for global stability.

The conversation will examine how nations and institutions can navigate a fragmented geopolitical landscape to find common ground. Moving beyond rigid alliances, the speakers will discuss the art of compromise and the mechanisms needed to sustain cooperation on economic security and resilience, even when global powers diverge.