This Policy Note assembles analysis on different angles of the COVID-19 crisis and the challenges and opportunities it presents for development policy and multilateralism. It addresses, among other issues: new ways of designing the relationship between governments and private actors that puts public interest at the centre; principles and concrete ideas for a multilateral response to COVID-19 as well as for a new multilateralism going forward; and how to respond to COVID-19 in a context of severe inequalities, including gender-based inequalities.