• News
    • Latest news
    • News search
    • Health
    • Finance
    • Food
    • Career news
    • Content series
    • Try Devex Pro
  • Jobs
    • Job search
    • Post a job
    • Employer search
    • CV Writing
    • Upcoming career events
    • Try Career Account
  • Funding
    • Funding search
    • Funding news
  • Talent
    • Candidate search
    • Devex Talent Solutions
  • Events
    • Upcoming and past events
    • Partner on an event
  • Post a job
  • About
      • About us
      • Membership
      • Newsletters
      • Advertising partnerships
      • Devex Talent Solutions
      • Contact us
Join DevexSign in
Join DevexSign in

News

  • Latest news
  • News search
  • Health
  • Finance
  • Food
  • Career news
  • Content series
  • Try Devex Pro

Jobs

  • Job search
  • Post a job
  • Employer search
  • CV Writing
  • Upcoming career events
  • Try Career Account

Funding

  • Funding search
  • Funding news

Talent

  • Candidate search
  • Devex Talent Solutions

Events

  • Upcoming and past events
  • Partner on an event
Post a job

About

  • About us
  • Membership
  • Newsletters
  • Advertising partnerships
  • Devex Talent Solutions
  • Contact us
  • My Devex
  • Update my profile % complete
  • Account & privacy settings
  • My saved jobs
  • Manage newsletters
  • Support
  • Sign out
Latest newsNews searchHealthFinanceFoodCareer newsContent seriesTry Devex Pro
    • Opinion
    • News
    • Development Buzz

    ADB hints at change

    Aware of Asia's changing development landscape and following the World Bank's lead, the Asian Development Bank is gearing up for internal reform to better accomplish its development goals in the region. Here are some takeaways from the bank's annual meetings.

    By Carlos Santamaria // 08 May 2014
    Less than a week ago, delegates attending the Asian Development Bank’s annual meeting gathered to listen to President Takehiko Nakao’s inaugural address to the bank’s board of governors in Astana, Kazakhstan. The usual priorities —inclusive and sustainable growth, infrastructure development and partnerships — were there, but the degree of introspection was noteworthy for an institution that prefers to focus on its work rather than engage in internal debate over how that work is done. Aware of Asia-Pacific’s rapidly evolving development landscape, and likely propelled by World Bank President Jim Kim’s ambitious reform agenda, the ADB chief acknowledged the bank needs to “reform itself.” Nakao said the key is innovation, and he highlighted how the Manila-based institution will pursue new paths to mobilize its financial resources by combining the Asian Development Fund with the balance sheet of its Ordinary Capital Resources, make its institutional processes more efficient and effective, “go local” by delegating more work to resident missions, and empower employees to hone in on their talents to provide a better service to clients. Exactly how those changes — or at this stage, in many cases, intentions to reform — will play out remains to be seen. But most attendees at the annual meeting and outside observers we spoke with agreed the bank is moving in the right direction, and as the recent review of the institution’s Strategy 2020 blueprint points out, it’s the only way for Asia-Pacific’s sole multilateral development bank to remain relevant in the region. In the days leading up to the annual meeting in Astana and after the event wrapped up on Monday, we reported extensively on some of the most relevant topics of debate. We analyzed where ADB spends its money and explored how China’s development cooperation strategy. We featured exclusive commentaries by Curtis S. Chin, the former a U.S. ambassador to ADB, on how the institution can stay relevant in a region that has changed so much since ADB was founded in 1966, and by David Pred, an NGO leader, on the need for the bank to enforce its safeguards policy on forced relocations caused by a failed railway project in Cambodia. We looked into Strategy 2020’s midterm review and what it means for the way ADB will conduct business in the next few years, and crunched the numbers on the practical side. In addition, we asked tough questions on how the institution plans to encourage inclusive business, and featured “donor darling” Myanmar’s wish list from the bank. Finally, we shared some of the biggest buzz at Astana, like China’s intention to set up a regional infrastructure development bank that could potentially compete with ADB, and we delved into a topic that has long been seen as a taboo: the bank’s formerly opaque internal communications culture, and how it has changed over the years. And we cited a current official who suggested that ADB will someday directly finance NGOs and civil society organizations. In the days ahead, we will continue to track ADB reforms and development progress in the Asia-Pacific region. As ADB President Takehiko Nakao insisted, for the bank as well as its partners, it’s no longer “business-as-usual.” So stay tuned to Devex. Read more development aid news online, and subscribe to The Development Newswire to receive top international development headlines from the world’s leading donors, news sources and opinion leaders — emailed to you FREE every business day.

    Less than a week ago, delegates attending the Asian Development Bank’s annual meeting gathered to listen to President Takehiko Nakao’s inaugural address to the bank’s board of governors in Astana, Kazakhstan.

    The usual priorities —inclusive and sustainable growth, infrastructure development and partnerships — were there, but the degree of introspection was noteworthy for an institution that prefers to focus on its work rather than engage in internal debate over how that work is done. Aware of Asia-Pacific’s rapidly evolving development landscape, and likely propelled by World Bank President Jim Kim’s ambitious reform agenda, the ADB chief acknowledged the bank needs to “reform itself.”

    Nakao said the key is innovation, and he highlighted how the Manila-based institution will pursue new paths to mobilize its financial resources by combining the Asian Development Fund with the balance sheet of its Ordinary Capital Resources, make its institutional processes more efficient and effective, “go local” by delegating more work to resident missions, and empower employees to hone in on their talents to provide a better service to clients.

    This story is forDevex Promembers

    Unlock this story now with a 15-day free trial of Devex Pro.

    With a Devex Pro subscription you'll get access to deeper analysis and exclusive insights from our reporters and analysts.

    Start my free trialRequest a group subscription
    Already a user? Sign in
    • Banking & Finance
    • Funding
    Printing articles to share with others is a breach of our terms and conditions and copyright policy. Please use the sharing options on the left side of the article. Devex Pro members may share up to 10 articles per month using the Pro share tool ( ).
    The views in this opinion piece do not necessarily reflect Devex's editorial views.
    Should your team be reading this?
    Contact us about a group subscription to Pro.

    About the author

    • Carlos Santamaria

      Carlos Santamaria

      Carlos is a former associate editor for breaking news in Devex's Manila-based news team. He joined Devex after a decade working for international wire services Reuters, AP, Xinhua, EFE ,and Philippine social news network Rappler in Madrid, Beijing, Manila, New York, and Bangkok. During that time, he also covered natural disasters on the ground in Myanmar and Japan.

    Search for articles

    Related Stories

    Climate FinanceIs ADB still Asia and the Pacific’s ‘climate bank’?

    Is ADB still Asia and the Pacific’s ‘climate bank’?

    Devex InvestedDevex Invested: Unpacking Bill Gates’ pledge to spend $200B by 2045

    Devex Invested: Unpacking Bill Gates’ pledge to spend $200B by 2045

    Devex InvestedDevex Invested: How to finance development in turbulent times

    Devex Invested: How to finance development in turbulent times

    Food SystemsHow ADB plans to invest $40B in food systems by 2030

    How ADB plans to invest $40B in food systems by 2030

    Most Read

    • 1
      How low-emissions livestock are transforming dairy farming in Africa
    • 2
      Opinion: Mobile credit, savings, and insurance can drive financial health
    • 3
      The UN's changing of the guard
    • 4
      USAID's humanitarian bureau is under pressure and overstretched
    • 5
      Opinion: India’s bold leadership in turning the tide for TB
    • News
    • Jobs
    • Funding
    • Talent
    • Events

    Devex is the media platform for the global development community.

    A social enterprise, we connect and inform over 1.3 million development, health, humanitarian, and sustainability professionals through news, business intelligence, and funding & career opportunities so you can do more good for more people. We invite you to join us.

    • About us
    • Membership
    • Newsletters
    • Advertising partnerships
    • Devex Talent Solutions
    • Post a job
    • Careers at Devex
    • Contact us
    © Copyright 2000 - 2025 Devex|User Agreement|Privacy Statement