The Asian Development Bank recently celebrated its 50th anniversary. During this time it has been witness to the region’s dramatic economic transformation. Is the bank ready for the next 50 years?

Founded in 1966, today’s Asian Development Bank (ADB) has 67 member countries from Asia and across the globe and has been integral in shaping Asia’s economy into the powerhouse of economic activity it is today.

Nevertheless, critics say the bank is too slow in its decision-making; while others claim its careful deliberation is a strength, as it was during the 1997 Asian financial crisis.

Former Dean of the Asian Development Bank Institute Dr Peter McCawley gave a presentation to the Australian Institute of International Affairs ACT Branch on 28 June. Beforehand he sat down with Yidan Qu to talk about the successes the ADB has achieved, what policy lessons were learnt during Asia’s political and economic transformation, and what opportunities the future holds.

Dr Peter McCawley is an economist who has worked on Asian economic issues. He is a visiting fellow at the Indonesia Project, Crawford School of Public Policy, Australian National University and is the principal author of ‘Banking on the Future of Asia and the Pacific: 50 Years of the Asian Development Bank’, recently published in Manila. He is a former Dean of the Asian Development Bank Institute.

Interviewed by Yidan Qu.

Filmed by Simon Harris.

Edited by Simon Harris.