THE Asian Development Bank (ADB) announced Thursday that it elected Masato Kanda as president of the bank, completing the remaining term of predecessor Masatsugu Asakawa.
Elected as the 11th president of the ADB, Mr. Kanda, 59, will assume office on Feb. 23 after a unanimous vote from the ADB Board of Governors. He will complete the double term of Mr. Asakawa, which runs until Nov. 26, 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,” according to ADB Board of Governors chairman Fabio Panetta, who is also governor of the Bank of Italy.
Prior to joining ADB, Mr. Kanada served in the Japanese Ministry of Finance, having been Vice-Minister for International Affairs.
He was also the Deputy Commissioner at the Financial Services Agency, Deputy Director-General of the Budget Bureau, and Deputy Vice-Minister for Policy Planning and Coordination, where Mr. Kanada acquired “extensive experience in financial sector policy and macro-fiscal policy.”
Mr. Kanada is also a leading expert in education and science policy as well as university reform. — Aubrey Rose A. Inosante