Manila (Newsman): Masato Kanda has been unanimously elected as the eleventh president of the Asian Development Bank (ADB) by the board of governors.
Mr. Masato Kanda, 59, serves as Special Advisor to Japan’s Prime Minister and Minister of Finance. Masatsugu Asakawa will step down on February 23, 2025, and he will take over on February 24, 2025. On November 23, 2026, President Asakawa’s unexpired term will be finished by Mr. Kanda.
Chair of the ADB Board of Governors and Bank of Italy Governor Fabio Panetta stated, “Mr. Kanda’s vast experience in international finance and demonstrated leadership in multilateral settings will serve ADB well in navigating complex global economic challenges and fostering international cooperation.”
“Working with Mr. Kanda is something that the ADB Board of Governors is excited about.”
Mr. Kanda has almost forty years of experience and has served in important leadership positions at the Japanese Ministry of Finance, including Vice-Minister of Finance for International Affairs.
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Having held positions as Deputy Commissioner at the Financial Services Agency, Deputy Director-General of the Budget Bureau, and Deputy Vice-Minister for Policy Planning and Coordination, he has a wealth of knowledge about macro-fiscal and financial sector policy.
In addition, he is a recognized authority on university reform, science policy, and education.
Mr. Masato Kanda has been actively involved in the G7, G20, and other international forums, tackling important policy issues like the evolution of the Multilateral Development Bank (MDB), disaster planning and response, pandemic prevention, debt sustainability, and transparency.
As Vice-Minister of Finance for International Affairs, he oversaw Japan’s record $1 billion contribution to the 13th replenishment of the Asian Development Fund (ADF 14).
G20/OECD Principles of Corporate Governance review in 2023 is being supervised by Masato Kanda, who has been the Chair of the OECD Corporate Governance Committee since 2016.
A former Alternate Executive Director for Japan at the World Bank, he also has a great deal of experience in strategic debates and decision-making at MDBs.
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After graduating from the University of Tokyo with a Bachelor of Laws in 1987, Mr. Masato Kanda went to Oxford University to get an MPhil in Economics in 1991.
ADB is dedicated to ending extreme poverty while working for a prosperous, inclusive, resilient, and sustainable Asia and the Pacific. With 49 members from the area, it was founded in 1966 and currently has 69 members.