Kanda secures 2nd term as ADB president

MANILA, Philippines — Asian Development Bank (ADB) president Masato Kanda is serving a second term after being re-elected to lead the multilateral lender as Asia-Pacific faces headwinds and new shocks.

In a statement, the multilateral development bank said that Kanda received unanimous support for a second term as ADB president during the recently concluded election.

His new five-year term will start on Nov. 24.

Kanda was first elected ADB’s 11th president in November 2024 and assumed the post in February last year, serving out the remainder of his predecessor, Masatsugu Asakawa’s, term.

“I am deeply honored by the trust our members have placed in me at this critical moment in our region’s history. New shocks are striking Asia and the Pacific, even before economies have recovered from the last and the international order is under its greatest strain in generations,” Kanda said.

“ADB must be the region’s anchor of stability. But stability cannot mean standing still. We must mobilize with speed and at the scale our members need, to protect people today while helping build a brighter future for the next generation,” he said.

Since Kanda assumed the post, the multilateral lender has provided significantly more support to members facing overlapping crises.

Last year, ADB provided a record $44 billion in support. This includes over $29 billion from its own resources and nearly $15 billion in cofinancing.

Through the historic amendment to the ADB charter, the multilateral lender’s annual financing capacity increased by 50 percent, enabling its annual financing from its own resources to reach over $36 billion.

Before joining ADB, Kanda served as a special advisor to Japan’s prime minister and finance minister from 2024 to 2025.

He also served as Japan’s vice-minister of Finance for International Affairs from 2021 to 2024.

As a multilateral development bank, ADB aims to promote sustainable, inclusive and resilient growth across Asia-Pacific.