Time to rethink European engagement with the ADB
This policy brief, published in the Asia-Europe Journal (AEJ), assesses the operations of the Asian Development Bank (ADB) and provides an analysis of the Bank’s relevance for its European member countries today and tomorrow.
One important reason for Europe’s 17 member countries to engage with the ADB lies in the Bank’s contributions to a prosperous, stable and more integrated Asia-Pacific. The ADB positively contributes to European countries'economic diplomacy and offers valuable opportunities to reinforce ties with players that are quickly strengthening their role and influence in global politics and economics.
Furthermore, the Bank’s non-Western diplomatic style provides lessons on how to operate successfully in tomorrow’s world, wherein Europe will be less influential.
European countries would do well to strengthen their engagement with the ADB and assist the Bank in maintaining legitimacy and relevance towards the future. The establishment in July 2014 of the BRICS-Bank and Chinese intention to create an Asian Infrastructure and Development Bank add further urgency to this call.
This article was published online first, with the printed version to follow.