THE Asian Development Bank (ADB) said its new president, Masato Kanda, assumed office on Monday.
In a statement, the bank said Mr. Kanda, former special advisor to Japan Prime Minister Shigeru Ishiba and a former Vice Minister of Finance, succeeded Masatsugu Asakawa.
He will serve as the ADB’s 11th president and takes on the unexpired term of Mr. Asakawa, which ends on Nov. 23, 2026.
“I am deeply honored to take on the role of ADB president at this important moment for our region,” Mr. Kanda said.
“With the trust of our 69 members and strong support of our dedicated staff, I am committed to advancing ADB’s mission to promote sustainable, inclusive, and resilient growth,” he added.
Mr. Kanda said the ADB will respond to pressing development challenges and ensure that it will remain the “partner of choice for the region.”
Mr. Kanda had been vice minister of finance for international affairs, at which post he oversaw market interventions to shore up a weak yen in 2024.
The chairman of the ADB Board of Governors, Fabio Panetta, said the new president brings a wealth of experience and fresh perspective to leading the bank.
“His proven track record in navigating complex financial challenges and fostering international cooperation makes him the ideal leader to guide us as we build upon our strengths and seize emerging opportunities,” Mr. Panetta said.
“I am ready to harness the collective expertise within our organization and work closely with our partners to drive transformative change, especially for those most in need,” Mr. Kanda said.
“Our focus will be on pragmatic actions that deliver real results, ensuring that our support creates lasting improvements in the lives of people throughout Asia and the Pacific,” he added.
Mr. Asakawa assumed the ADB presidency on Jan. 17, 2020, and announced his resignation effective Feb. 23, 2025.
The ADB in September said lending for the Philippines is projected at $24 billion between 2024 and 2029. — Aubrey Rose A. Inosante
