Recent evaluation shows these elements are crucial to supporting economic growth and eradicating poverty without further harming the environment.
There is clear potential for replication and scaling up this model across developing Asia.
Governments and organizations, including multilateral development banks, are funding tens of billions of dollars in development projects and programs to help countries respond to COVID-19. The evaluation and monitoring process should not be bypassed.
The COVID-19 crisis has taught us that robust and credible monitoring and evaluation systems are vital to ensure development projects and programs improve the lives of people most in need.
In development, as in matters of health, prevention is better than cure. Had policymakers acted boldly to avert well-recognized economic imbalances before 2008, the financial crisis may have been avoided.
As multilateral development banks gear up to fill serious gaps in infrastructure in Asia, attention also focuses on safeguards, which should be a top concern for established lenders such as the World Bank and ADB as well as new players like the AIIB.
Yes – but only if the focus is on quality and impact, and not on the quantity and volume of investment.
Carefully evaluating development projects, and learning from success and challenges of past efforts, is more important than ever as governments fight COVID-19.
ADB reforms and new resources provide an opportunity to make incremental progress on development work in Asia’s low-income countries.
For development institutions, private sector investments offer plenty of potential for promoting inclusive and environmentally sustainable growth at a profit. But how successful are they in achieving actual development gains?