This report summarizes the progress of the Southeast Asia Department (SERD) of the Asian Development Bank (ADB) in mainstreaming knowledge in its development support to countries supported by the department in 2010-2011. It outlines the guiding principles of a knowledge management framework in the context of the ADB operations cycle, and summarizes selected knowledge products generated, disseminated, and used in SERD lending and nonlending operations at different stages of the cycle. The report concludes with lessons and recommendations on the further strengthening of the "knowledge first, finance follows" principle to more effectively meet the increasing demands by each client country for knowledge as an integral part of ADB development assistance to the region.