The Multilateral Development Banks: Volume 2, The Asian Development Bank

The multilateral banks are powerful forces in the international community, providing loans of more than $250 billion to developing countries over the last half-century. The best-known of these, the World Bank, has been studied extensively, but the "regional development banks" are little understood, even within their own geographic regions. This book looks specifically at the policies and projects of the Asian Development Bank, which, like the other multilateral banks, is being increasingly criticized by grassroots organizations, environmental groups, and others. Drawing on case studies, Kappagoda responds to some basic questions: Has the Asian Development Bank in fact been an effective agent of development? Has it been a mere clone of the World Bank, susceptible to that agency's weaknesses, as well as its strengths? He also assesses the bank's ability to take on the emerging challenges on the development agenda, including such issues as governance, military spending, and the need for gender-sensitive development strategies.