On October 24, 2018, Prof. Enrique Garcia, former Executive President of the Development Bank of Latin America, talked on “The Role of Development Banks in the Current World Scenario” during the No.2 Fudan-LSE Lecture Series. He briefly introduced multilateral development banks’ (hereinafter referred to as MDBs) history and their role in international development arena. After combing Latin America development history, Garcia pointed out four challenges facing it, i.e. high dependence on export of primary products, low saving rate and underfinanced, low productivity and international competitiveness, sharp income inequality and arduous tasks in poverty alleviation. So Development Bank of Latin America should be a provider of financing and knowledge for development, as well as promoting regional integration. In conclusion, Garcia made several suggestions for newly set MDBs like AIIB. On the one hand, MDBs should not limit their operation only in development financing, knowledge and experience sharing, effective institutions and transparent procurement should also be considered. On the other hand, different MDBs should try to find common interest and promote bilateral and multilateral cooperation.