Published:  03:53 AM, 03 December 2019

ADB elects new president

ADB elects new president

The Asian Development Bank (ADB) has elected Masatsugu Asakawa as its new president. Asakawa, 61, is currently serving as a Special Advisor to Japan's Prime Minister and Minister of Finance. He is set to assume office as ADB's 10th president on Jan 17, 2020 and will finish the unexpired term of outgoing president Takehiko Nakao, according to an ADB statement. "

Asakawa's extensive and diverse experience in international finance and development will serve ADB well in pursuing its vision of a prosperous, inclusive, resilient, and sustainable Asia and the Pacific," said Deputy Prime Minister and Minister of Economy and Finance of the Republic of Korea and Chair of the ADB Board of Governors Hong Nam-Ki."The ADB Board of Governors looks forward to working with Asakawa."

Asakawa has held a range of senior positions at the Ministry of Finance of Japan, including Vice Minister of Finance for International Affairs, and gained diverse professional experience in development policy, foreign exchange markets, and international tax policy, in a career spanning close to four decades.


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