The Asian Development Bank as a Global Risk Regulator in Myanmar

Abstract

The Asian Development Bank (adb) is engaged in development projects throughout the Greater Mekong Subregion, although for most of the past two decades it has boycotted Myanmar (Burma) because of donor government sanctions. Despite being criticised for its neoliberal focus and its lack of transparency and accountability, the adb's operations compare favourably to those of the Myanmar government and many transnational corporations constructing and financing projects there. This article engages with the concept of risk, which increasingly frames how development in fragile states like Myanmar is understood, to critically analyse the adb's nascent re-engagement in Myanmar according to the risks this poses for five constituencies: the adb itself; donor states; the Myanmar government and military; private capital; and marginalised communities. While deeper engagement in Myanmar poses different risks for each group, critical analysis suggests that the adb must increase the genuine participation of civil society actors in its activities to address the most significant risks of all, those facing marginalised communities.