Asakawa is new ADB president
Credit to Author: Anna Leah E. Gonzales| Date: Mon, 02 Dec 2019 17:27:00 +0000
The Asian Development Bank’s (ADB) board of governors has elected Masatsugu Asakawa as its new president.
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In a statement on Monday, the multilateral lender said Asakawa, currently the special advisor to Japanese Prime Minister Shinzo Abe and Finance Minister Taro Aso, would take over as its 10th chief on Jan.17, 2020.
He will succeed Takehiko Nakao, who will leave office on Jan. 16.
Asakawa will finish the remainder of Nakao’s term, which ends on Nov. 23, 2021.
“Mr. Asakawa’s extensive and diverse experience in international finance and development will serve [the] ADB well in pursuing its vision of a prosperous, inclusive, resilient and sustainable Asia and the Pacific,” said Hong Nam-Ki, South Korean deputy prime minister and economy minister who leads the board.
“The ADB Board of Governors looks forward to working with Mr. Asakawa,” he added.
Asakawa has held senior positions at Japan’s Finance ministry, including vice minister of finance for international affairs, and gained wide professional experience in development policy, foreign-exchange markets and international tax policy.
He served as finance deputy for the Group of 20 (G-20) summit in Osaka, Japan in June and the group’s Finance Ministers and Central Bank Governors meeting in Fukuoka, Japan.
He also frequently engaged with the Organization for Economic Cooperation and
Development, including as chairman of its Committee on Fiscal Affairs from 2011 to 2016.
The new ADB chief served as visiting professor of the University of Tokyo from 2012 to 2015 and at Saitama University from 2006 to 2009.
Asakawa received his Bachelor of Arts degree from the University of Tokyo in 1981 and masteral degree in public administration from Princeton University in 1985.