The Asian Development Bank needs to change in order to remain a relevant and impactful player in regional development, analysts and ADB officials said during a public forum in Canberra, Australia on Wednesday.
The 50-year-old institution has been an influential player in poverty reduction for the Asia-Pacific region. But in order to respond to a host of emerging challenges — from an aging population, to climate change, to growing inequality between the rich and poor — the ADB may need structural and cultural reform, experts from Australia’s research community said in a discussions with ADB Vice President Stephen Groff.
Speakers urged the bank to become more nimble and adaptive in response to both crises and global development priorities. Moreover, the bank should consider emulating the social diversity of the region, they said, including by promoting women and more different country nationals within its leadership.
About the author
Lisa Cornishlisa_cornish
Lisa Cornish is a former Devex Senior Reporter based in Canberra, where she focuses on the Australian aid community. Lisa has worked with News Corp Australia as a data journalist and has been published throughout Australia in the Daily Telegraph in Melbourne, Herald Sun in Melbourne, Courier-Mail in Brisbane, and online through news.com.au. Lisa additionally consults with Australian government providing data analytics, reporting and visualization services.
