New ADB president assumes office
Czeriza Valencia (The Philippine Star) - January 18, 2020 - 12:00am

MANILA, Philippines —  New Asian Development Bank (ADB) president Masatsugu Asakawa assumed office yesterday, becoming the 10th president of the Manila-based multilat­eral bank since its establishment in 1966.

Asakawa succeeds Takehiko Nakao who stepped down on Jan. 16.

“I am honored to assume the role of ADB president and to begin working in close cooperation with our 68 member countries. ADB has been a trusted part­ner of the region for more than half a century, supporting strong growth that has improved the lives of people across Asia and the Pacific. I will strive to en­sure ADB remains the preferred choice of its clients and p a r t n e r s , ” h e said.

In a c a re e r spanning close to four decades, As a k awa ha s held a range of senior positions at Japan’s Min­istry of Finance, including as

 minister of finance for international af­fairs, and gained diverse professional experience in development policy, foreign exchange markets, and international tax policy.

He served as finance deputy for the 2019 G20 Osaka Summit and the G20 Finance Ministers and Central Bank Gov­ernors meeting in Fukuoka, Japan.

In the immediate aftermath of the global financial crisis, he took part in the first G20 Leaders’ Summit Meeting in his capacity as executive assistant to then prime minister Taro Aso.

Asakawa has had frequent engagement with the Organization for Economic Co-operation and Development, including as chair of the committee on fiscal affairs from 2011 to 2016.

His international experience includes service as chief advisor to ADB president Kimimasa Tarumizu between 1989 and 1992, during which he spearheaded the creation of a new office in ADB focused on strategic planning.

He served as a visiting professor at the University of Tokyo from 2012 to 2015 and at Saitama University from 2006 to 2009.

He obtained his Bachelor of Arts from the University of Tokyo in 1981 and MPA from Princeton University in 1985.

“I am thrilled to be in Manila, where I will dedicate myself to ADB members in the region and beyond, while listening carefully to their voices. With the exper­tise of ADB staff, and by further enhanc­ing its effectiveness and efficiency, I am confident that ADB can stand up to the challenges that the region faces. I pledge to do my best to achieve a more prosper­ous, inclusive, resilient, and sustainable Asia and the Pacific,” Asakawa said.

  • Latest
  • Trending
Are you sure you want to log out?
Login is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

or sign in with