Vinod Thomas，Director-General of Independent Evaluation, Asian Development Bank
Balancing increased financing for infrastructure with environmental and social care must be a top concern for both the established lenders (such as the World Bank and Asian DevelopmentBank) and the two new lenders for development: the Asian Infrastructure Investment Bank (AIIB), planned to be established in Beijing later this year； and the New Development Bank of BRICS countries. Behind that priority lies there cognition that failed safeguards in accidents or accumulated damages cost far more than sound regulation and enforcement.
The vital question for established banks and new comers alike is twofold: what is a desirable scope of safeguards, and how to get good compliance. There's a growing consensus on the question of the "what",but the "how" remains highly problematic.
AVILASH ROUL (Ph.D), Senior Fellow, Societyfor the Study of Peace and Conflict, New Delhi
It is better that the AIIB andNDB learnt from the mistakes of the IFIs, especially World Bank and ADB. IfAIIB can ensure that people will be consulted fairly before any project designand subsequently during the project cycle, that would be the revolutionarychange from existing developmental discourse. The Article of Agreement mustreflect as boldly as possible the aspirations of Asian people rather than thatof governments of Asia.