Masato Kanda Appointed ADB President
People | Nov 28, 2024 | Asian Development Bank
The Asian Development Bank (ADB) has announced the election of Masato Kanda as its 11th President, succeeding Masatsugu Asakawa. Kanda, currently Special Advisor to Japan's Prime Minister and Minister of Finance, will begin his term on February 24, 2025, and conclude in November 2026. The decision by the ADB Board of Governors was unanimous, signaling strong support for Kanda's leadership capabilities. He has an extensive background in international finance and policy, having held significant roles in Japan's Ministry of Finance, notably as Vice-Minister for International Affairs. Kanda also boasts experience in global economic forums such as the G7 and G20 and has made notable contributions to multilateral development bank initiatives, including a record $1 billion contribution to the Asian Development Fund's replenishment. As he prepares to assume the presidency, Kanda aims to navigate global economic challenges and uphold ADB's mission to bolster prosperity and sustainability in Asia and the Pacific.
Sectors
- International Finance
- Development Banking
Geography
- Asia – ADB's operations primarily cover Asia and the Pacific, making it the central geographical focus of the article.
- Japan – Masato Kanda, the newly appointed President of ADB, is from Japan and has held significant roles in the Ministry of Finance of Japan.
Industry
- International Finance – The article discusses the appointment of a leader with extensive experience in international finance.
- Development Banking – ADB is a multilateral development bank focusing on economic sustainability and development in Asia and the Pacific.
Financials
- More than $1 billion – Contribution to the Asian Development Fund's 13th replenishment by Japan during Kanda's tenure.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Asian Development Bank | Employer | Company | A multilateral development bank aiming to foster economic growth and cooperation in Asia and the Pacific. |
| Masato Kanda | New President | Person | Elected as the 11th President of the Asian Development Bank. |
| Masatsugu Asakawa | Outgoing President | Person | The current President of ADB whose term ends in February 2025. |
| Ministry of Finance of Japan | Former Employer | Government | Provided Masato Kanda with leadership roles in international finance. |
| ADB Board of Governors | Electoral Body | Company | Unanimously elected Masato Kanda as ADB's President. |