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    • Opinion
    • Multilateral development banks

    Why we must embrace risk to achieve development

    Multilateral development banks like the Asian Development Bank may not survive unless we innovate and take risks, writes Sohail Hasnie, principal energy specialist with the ADB in this exclusive guest column.

    By Sohail Hasnie // 28 October 2015

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    Our working relationship with risk is like reading classic novels: we claim to have read them at social interactions, but few of us are willing to go through the pain of actually reading them. And while we take the risk of being hit by a car when we walk across a busy intersection, we tend to be very risk-averse in a corporate setting.

    In our everyday work, we do assume some small risks, by design or dictated by circumstances, with the same result — whether we like it or not, we like to brag about it when our little gamble produces more than the expected benefits. That’s exactly what happened this week with our team.

    The challenge at hand is rehabilitating a 40-year-old hydropower station in Toktogul, Kyrgyz Republic. The 1,200-megawatt station has been producing more than 30 percent of the country’s electricity since early 1970s, bringing heat and light to citizens continuously during the winter. Life without Toktogul is unimaginable for those citizens.

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    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.

    About the author

    • Sohail Hasnie

      Sohail Hasnie

      Sohail Hasnie is a principal energy specialist with the Asian Development Bank. A firm believer that the solution to climate change lies in new technology, he has applied new technology to ADB projects in several Asian countries. Before joining ADB, Sohail worked for the state power utility and independent regulator in Melbourne, Australia.

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