The main feature of Polylateral Development, as opposed to more traditional bilateral or multilateral development, is the absence of any single agency or organization (IMF, World Bank, USAID etc.)
in determining the direction that is taken by developing nations in regard to the creation of policy.
A good example of Polylateral Development in action can be seen in the work of the Alliance for Financial Inclusion.
AFI is a knowledge sharing network of developing nations focused on expanding access to the formal financial sector and has often been credited with coining the Polylateral Development term.
Rather than having direction imposed upon them by international organizations or developed countries, the members of AFI determine their priorities and direction through consultation with other members (using forums, working groups and one to one meetings), and then develop policy based on the specific needs of their populations and the capacity of their countries.