Asian Development Bank choses Masato Kanda as next president

The Asian Development Bank (ADB) Board of Governors has elected Masato Kanda as the institution’s 11th President, Kazinform News Agency reports.

Mr. Kanda, who is presently the Special Advisor to Japan's Prime Minister and Minister of Finance, will succeed Masatsugu Asakawa on February 24, 2025. The unexpired term of President Asakawa will be completed by the end of his term, which will extend until November 23, 2026.

“Mr. Kanda’s extensive experience in international finance and proven leadership in multilateral settings will serve ADB well in navigating complex global economic challenges and fostering international cooperation,” said Chair of the ADB Board of Governors and Governor of the Bank of Italy Fabio Panetta.

Mr. Kanda has nearly four decades of experience and has held significant leadership positions at Japan's Ministry of Finance, including Vice-Minister of Finance for International Affairs. During his time in office, he oversaw a record-breaking $1 billion contribution to the Asian Development Fund. Since 2016, he has also served as the chair of the OECD Corporate Governance Committee and has engaged in strategic discussions at multilateral development banks.

Mr. Kanda will follow Masatsugu Asakawa, who has served as ADB President since January 2020. Mr. Asakawa recently visited Astana, to participate in the 23rd Ministerial Conference of CAREC Program and also meet with President Kassym-Jomart Tokayev.