This evaluation puts forward a strong case for Australia to remain engaged with Asian middle-income countries (MICs), and argues that Australia can continue to build its comparative advantage as a partner in economic and social reform.

Over the last 10 years, around 15 per cent of the Australian aid budget was spent through two multilateral development banks (MDBs): the Asian Development Bank (ADB) and the World Bank. Close to two-thirds of this was given as non-core funding (funding earmarked for a specific purpose or region). Through these contributions the aid program...