Tashkent, Uzbekistan (UzDaily.com) —  The Board of Governors of the Asian Development Bank (ADB) has unanimously approved Masato Kanda as the 11th president of the organization.

He will assume office on 24 February 2025, replacing Masatsugu Asakawa, who will step down the day before. The new president will complete the remainder of Asakawa’s term, which ends on 23 November 2026.

Masato Kanda, 59, is currently a special adviser to the Prime Minister and Minister of Finance of Japan. With nearly 40 years of experience, he has held key positions in Japan's Ministry of Finance, including Deputy Minister for International Affairs, and has been involved in the formulation of international financial and macroeconomic policies.

Kanda has actively participated in international forums such as the G7 and G20, promoting reforms in multilateral development banks, pandemic prevention measures, and sustainable debt management. Under his leadership, Japan contributed a record $1 billion to the replenishment of the ADB’s fund.

In addition, Kanda chaired the OECD Corporate Governance Committee, leading the revision of the G20/OECD Principles of Corporate Governance in 2023.

He holds a Bachelor of Laws from the University of Tokyo (1987) and a Master of Philosophy in Economics from the University of Oxford (1991).

Fabio Panetta, Chair of the ADB Board of Governors, emphasized that Kanda’s leadership will contribute to addressing global economic challenges and strengthening international cooperation.

Founded in 1966, ADB continues its efforts to eradicate poverty and promote sustainable development in Asia and the Pacific. The bank has 69 member countries, 49 of which are in the region.