Between 1966 and 2002, the Asian Development Bank (ADB or Bank) provided approximately $99 billion dollars in loans for 1,752 projects in 38 countries throughout the Asia- Pacific region.1 This report examines the ADB’s track record – in the Bank’s own words, based entirely on the Bank’s own documents – in Indonesia, Pakistan, and Sri Lanka. Indonesia and Pakistan are, respectively, the ADB’s first and second biggest cumulative borrowers. Together, they have received more than one-third of total ADB funds disbursed during the Bank’s thirty-six-year history. During the 1990s, Sri Lanka was one of the top borrowers from the Bank’s concessional lending window, the Asian Development Fund (ADF) and is currently among the “reconstructing nations” targeted by the ADB for postconflict loans.2 ADB loans to Sri Lanka, although relatively small compared to those made to Indonesia and Pakistan, currently comprise approximately 20 percent of the country’s public external debt. In its 2000 assessment of multilateral development finance, the bi-partisan U.S. Congressional International Financial Institution Advisory Commission (the Meltzer Commission) found project sustainability - whether or not a project provides lasting, long-term economic and social benefits - to be the key indicator for judging the performance of multilateral development banks such as the ADB.The Meltzer Commission considered a lack of project sustainability to be synonymous with project failure.