The Board of Governors of the Asian Development Bank (ADB) has elected Masato Kanda as the institution's 11th President, according to Kazinform News Agency. Currently serving as Special Advisor to Japan's Prime Minister and Minister of Finance, Mr. Kanda will succeed Masatsugu Asakawa on February 24, 2025. Asakawa’s unexpired term will continue until its conclusion on 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 succeed Masatsugu Asakawa, who has held the position of ADB President since January 2020. Recently, Mr. Asakawa visited Astana to take part in the 23rd Ministerial Conference of the CAREC Program and to meet with President Kassym-Jomart Tokayev.