At last year’s annual meeting in Astana, Kazakhstan, Asian Development Bank President Takehiko Nakao rolled out a set of reforms that are meant to make the Manila-based financial institution more effective, increase its efficiency and help maintain its relevance in the region.
Many of these reforms come as no surprise to ADB member countries as they were based on a midterm review and Strategy 2020, the bank’s blueprint to meet the challenges of a transforming Asia-Pacific. Some of the proposed changes were to improve the bank’s procurement system, promote knowledge sharing and open data, and increase its focus on partnerships.
Perhaps the biggest item in the reform agenda was the proposal to merge the bank’s two main financial instruments, the Asian Development Fund and the ordinary capital resources.
How have these reforms progressed a year after they were announced?
Lean Alfred Santos is a Devex development reporter focusing on the development community in Asia-Pacific, including major players such as the Asian Development Bank and the Asian Infrastructure Investment Bank. Prior to joining Devex, he covered Philippine and international business and economic news, sports and politics. Lean is based in Manila.
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