Japan's Masato Kanda has been elected as the new president of the Asian Development Bank (ADB). He will succeed Masatsugu Asakawa on February 24 next year. ADB's Board of Governors unanimously elected him as the 11th President. This information was informed in a circular from ADB's Dhaka office on Thursday.
It said that Kanda is currently working as a special advisor to the Prime Minister and Finance Minister of Japan. He will succeed ADB's current president Masatsugu Asakawa on February 24, 2025. ADB's current president's term will end on February 23.
Fabio Panetta, Chair of ADB's Board of Governors and Governor of the Bank of Italy, said Kanda's extensive experience in international finance and multilateral leadership will serve ADB well to address tough global economic challenges and enhance international cooperation. ADB's Board of Governors looks forward to working with Kanda.
According to ADB, with nearly four decades of experience, Kanda has held key leadership roles in Japan's Ministry of Finance. Among which he is the vice president of the finance minister for international affairs. He has extensive experience in financial sector policy and macroeconomics. He has served as Deputy Commissioner of the Financial Services Agency, Deputy Director General of the Budget Bureau and Vice-Chancellor for Policy Planning and Coordination. Also a leading expert on education and science policy as well as university reform.
