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p. 2 of 15 BACK | NEXT I. Introduction II. Knowledge and Development III. Managing Knowledge at the Asian Development Bank IV. Knowledge Management at the Asian Development Bank: The Framework V. Benefits, Organizational And Resource Implications VI. Conclusion Appendixes

Knowledge Management

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II. Knowledge and Development

A. Demand for Knowledge

3. In recent decades, knowledge has become the most important asset for most economies in the world (Box 1 for definition of knowledge).⁵ In their quest to gain faster growth by using resources more efficiently, countries and businesses around the globe are driven by the generation and distribution of knowledge. This process has been accelerated by the information and communication technology (ICT) revolution, which dramatically increased the flow of information. Knowledge-based countries and organizations increasingly encourage their people to pursue life-long learning, investing heavily in research and development, and technology to promote knowledge exchange and to drive innovation.

4. The development experience in East Asia—for example, Hong Kong, China; Republic of Korea; Singapore; and Taipei, China—demonstrates the critical role of knowledge in catalyzing development. They all emphasize the importance of education, including advanced scientific and technical studies, to enable sophisticated technologies to grow.⁶

B. The Asian Development Bank’s Role

6. As a regional development institution in Asia and the Pacific, ADB has always stressed knowledge exchange as a critical product. The principal objectives of ADB’s nonlending services in the form of economic, sector, and thematic work have been to create new insights and make these widely known. Knowledge transfer is also an important component of ADB’s lending operations. Embodied in investment projects that ADB finances are the best available knowledge and practices. These are complemented by extensive support for capacity development to enhance DMCs’ ability to develop, capture, and apply knowledge.

7. While Asia and the Pacific have achieved rapid growth and poverty reduction in the last three decades, the region has still far to go in meeting the Millennium Development Goals (MDGs). To achieve the MDGs, the DMCs will need to acquire and apply relevant knowledge to accelerate poverty reduction and to effectively mobilize and use the necessary financial resources. To remain relevant in responding to the varying and complex poverty reduction needs in the region, ADB must become more effective in sharing knowledge and more proactive in supporting learning.

8. Middle-income DMCs are increasingly demanding that ADB complement its role as a financial intermediary by making available insights and experience that will help them pursue their development objectives. As a regional development bank, ADB is strategically placed to assimilate varied development experiences from across Asia and the Pacific, and disseminate them within and outside the region. Similarly, with its extensive development knowledge of the region, ADB is well positioned to capture relevant good practices and lessons learned from the rest of the world, and not only transfer them to the DMCs but also help DMCs adapt them to their particular circumstances. To remain relevant to the needs of a rapidly changing region, ADB must now expand its role in catalyzing knowledge for innovation and development.

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