The World Bank Group (WBG), the Asian Development Bank (AsDB), the African Development Bank (AfDB) , the Bank for International Settlements (BIS), Inter-American Development Bank (IADB), European Bank for Reconstruction and Development (EBRD), the International Monetary Fund (IMF), and the Organization for Economic Co-operation and Development (OECD , with the active support of the Deutsche Bundesbank, are in the process of implementing the G-20 Action Plan to support the Development of Local Currency Bond Markets, endorsed by G-20 Heads of State and Government at their November 2011 Summit in Cannes.