Knowledge, Finance, and the Quality of Growth: An Evaluative Perspective on Strategy 2030
In a rapidly changing socioeconomic, financial, and institutional landscape, ADB should adopt the pursuit of better quality growth as its primary strategic interest and value proposition under Strategy 2030.
The Asia and Pacific region has witnessed fundamental change, with its rapid economic growth and poverty reduction unmatched in any other region worldwide. The region has become richer faster than any other region in the world and enters this century with nearly all its countries having reached middle-income status. At the same time, this middle-income status covers a large variety of situations, with wide differences in income levels, resources and capacities. Across the region, poverty, hunger, and environmental sustainability remain unfinished agendas. New threats have emerged while others have intensified. Amid all this change and complexity, as ADB celebrates its 50th anniversary, it has a unique opportunity to rethink and recast its role to remain relevant and impactful and better respond to the demand of its client countries.
The central message of this report is that in the rapidly changing socioeconomic, financial, and institutional landscape, ADB should adopt the pursuit of better quality growth as its primary strategic interest and value proposition under Strategy 2030. As also highlighted in the global Sustainable Development Goals, Asian economies have to embrace a more sustainable and inclusive growth trajectory. For Asia this will require a continued and intensified focus on the three mutually-enforcing agendas of social and geographical inclusion, environmental sustainability, and regional cooperation and integration.
It will also require that ADB become a more expert and agile development partner, with much stronger capability to leverage and combine knowledge with finance to achieve results. ADB must adapt to remain relevant and responsive to a more diverse, dynamic, and demanding clientele. This ambition will require that ADB evolves at multiple levels—not only strategically, but also operationally, institutionally, and culturally.
Evaluation evidence provides some optimism that with its 50 years of experience and strong partnerships, and amidst its strengths and improving performance, ADB is well positioned to rise to the challenge and position itself as a valued partner to all development actors in Asia and the Pacific.
- Executive Summary
- Changing Development Challenges in Asia and the Pacific
- ADB’s Response: What Evaluation Tells Us
- Going Forward: Differentiation and Agility