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Masatsugu Asakawa has been elected as the President of the Asian Development Bank

Masatsugu Asakawa has been elected as the President of the Asian Development Bank

Masatsugu Asakawa has been elected as the President of the Asian Development Bank (ADB) by the Bank's Board of Governors.  Currently, he is serving as the Special Advisor to Japan's Prime Minister and Minister of Finance. He will be assuming the office on 17 January 2020. He will be the 10th President of ADB. He will replace Takehiko Nakao.

Key Points:

  • Mr Asakawa, 61, has extensive and diverse experience in international finance and development sector. He has a career spanning experience in the field for close to four decades. 
  • He has held a range of senior positions at the Ministry of Finance of Japan, including Vice Minister of Finance for International Affairs. 
  • He has good 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. 

About ADB:

  • The Asian Development Bank is a regional development bank that was established on 19 December 1966. ADB now has 68 members.
  • ADB is headquartered in Manila, Philippines.
  • The main aim is to promote social and economic development in Asia. 
  • As of 31st December 2016, Japan holds the largest proportion of shares at 15.677%.

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