ISLAMABAD: The Asian Development Bank (ADB) Board of Governors has unanimously elected Masato Kanda as ADB’s 11th President. Kanda, fifty nine, presently serves as Special Advisor to Japan’s Prime Minister and Minister of Finance, in step with ADB press launch obtained here Thursday. He will assume office on 24 February 2025, succeeding Masatsugu Asakawa, who will leave workplace on 23 February 2025. Kanda will entire the unexpired time period of President Asakawa, which ends on 23 November 2026. “Mr. Kanda’s huge revel in in global finance and demonstrated management in multilateral settings will serve ADB nicely in navigating complicated worldwide financial challenges and fostering worldwide cooperation,” said Chair of the ADB Board of Governors and Governor of the Bank of Italy Fabio Panetta. “The ADB Board of Governors appears ahead to operating with Mr. Kanda,” Panetta brought According to press release, with nearly 4 decades of enjoy, Kanda has held key management roles at the Ministry of Finance of Japan, which includes Vice-Minister of Finance for International Affairs. He has massive enjoy in financial sector coverage and macro-economic policy, having served as Deputy Commissioner at the Financial Services Agency, Deputy Director-General of the Budget Bureau, and Deputy Vice-Minister for Policy Planning and Coordination. He is also a main expert in schooling and technology policy in addition to college reform. Kanda has been actively engaged in the G7, G20, and other international forums, addressing key coverage demanding situations consisting of multilateral improvement bank (MDB) evolution, pandemic prevention, preparedness and reaction, and debt sustainability and transparency. During his tenure as Vice-Minister of Finance for International Affairs, Japan made a record contribution of greater than $1 billion to the Asian Development Fund 13th replenishment (ADF 14). Since 2016, Kanda has served as Chair of the OECD Corporate Governance Committee, overseeing the review of the G20/OECD Principles of Corporate Governance in 2023. He lso has large enjoy in strategic discussions and choice-making at MDBs, having served as Alternate Executive Director for Japan on the World Bank. Kanda acquired his Bachelor of Laws from the University of Tokyo in 1987, and M.Phil in Economics from Oxford University in 1991.
