Manila (TDI): The Asian Development Bank (ADB) Board of Governors has unanimously elected Masato Kanda as its 11th President, according to an official announcement on Thursday.
Kanda, currently serving as Special Advisor to Japan’s Prime Minister and Minister of Finance, will assume office on February 24, 2025, succeeding Masatsugu Asakawa.
He will complete the remainder of Asakawa’s term, which ends on November 23, 2026.
Fabio Panetta, Chair of the ADB Board of Governors and Governor of the Bank of Italy, lauded Kanda’s extensive expertise in international finance and his proven leadership in multilateral platforms.
“The ADB Board looks forward to working with him to address complex global economic challenges and foster international cooperation,” Panetta said.
A Look at ADB Incoming President’s Career
With a distinguished President’s career spanning nearly four decades, Kanda has held senior leadership roles at Japan’s Ministry of Finance, including Vice-Minister of Finance for International Affairs.
His tenure in the financial sector includes positions such as Deputy Commissioner at the Financial Services Agency and Deputy Director-General of the Budget Bureau.
He is also recognized for his contributions to education, science policy, and university reforms.
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Kanda has played a pivotal role in global financial discussions through G7 and G20 forums, tackling critical issues such as debt sustainability, multilateral development bank reforms, and pandemic preparedness.
During his tenure as Vice-Minister, Japan contributed a record $1 billion to the 13th replenishment of the Asian Development Fund.
In addition, Kanda has chaired the OECD Corporate Governance Committee since 2016, overseeing the 2023 review of the G20/OECD Principles of Corporate Governance.
His experience extends to decision-making at multilateral development banks, having served as Alternate Executive Director for Japan at the World Bank.
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A graduate of the University of Tokyo with a Bachelor of Laws in 1987, Kanda earned an M.Phil in Economics from Oxford University in 1991.
ADB, founded in 1966, is dedicated to fostering a prosperous, inclusive, and sustainable Asia-Pacific region, with a focus on eradicating extreme poverty.
The bank is owned by 69 member countries, 49 of which are from the region.
