The Asian Development Bank (ADB) has announced the unanimous election of Masato Kanda as its 11th President. Mr. Kanda, currently serving as Special Advisor to Japan’s Prime Minister and Minister of Finance, will assume office on 24 February 2025, succeeding Masatsugu Asakawa, who will conclude his term on 23 February 2025.
Mr. Kanda, 59, brings a wealth of experience in international finance and multilateral diplomacy to the role. He will complete the remainder of President Asakawa’s term, which runs until 23 November 2026.
Chair of the ADB Board of Governors, Fabio Panetta, expressed confidence in Mr. Kanda’s leadership. “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,” Panetta said. “The ADB Board of Governors looks forward to working with Mr. Kanda.”
Kanda’s election comes at a pivotal moment for the ADB as the region faces a host of economic uncertainties, including global inflationary pressures, climate challenges, and shifting trade dynamics. His appointment is expected to bolster the bank’s efforts to address these issues and continue its mission of fostering sustainable development across Asia.
