THE Asian Development Bank (ADB) Board of Governors unanimously elected Masato Kanda as its new president.
Mr Kanda officially assumed office late last month as the 11th president of the ADB.
He succeeds Masatsugu Asakawa who left office on February 23 this year.
Mr Kanda has about four decades of experience in international finance and development policy and widely recognised for his forward-thinking leadership and decisive interventions during periods of market volatility.
According to the ADB, during his tenure as Japan’s vice-minister of finance for international affairs, Mr Kanda was instrumental in pioneering innovative financial solutions and orchestrating policy actions that helped stabilise markets.
“Masato Kanda brings a wealth of experience and a refreshing perspective to ADB. His proven track record in navigating complex financial challenges and fostering international cooperation makes him the ideal leader to guide us as we build upon our strengths and seize emerging opportunities,” said ADB Board of Governors chairperson Fabio Panetta.
“I am confident that under his leadership, ADB will deliver targeted and impactful solutions for our developing member countries.”
Mr Kanda said he was honoured to take on this role of ADB president at this important moment for the region.
He said with the trust of its 69 members and support of dedicated staff, he was committed to advancing ADB’s mission to promote sustainable, inclusive, and resilient growth.
“Together, we will respond to pressing development challenges, ensuring that ADB remains the partner of choice for the region,” Mr Kanda.
“I am ready to harness the collective expertise within our organisation and work closely with our partners to drive transformative change, especially for those most in need.
“Our focus will be on pragmatic actions that deliver real results, ensuring that our support creates lasting improvements in the lives of people throughout Asia and the Pacific.”
The ADB said Mr Kanda’s appointment underscored its ongoing evolution and its commitment to meeting the dynamic needs of its developing member countries.
As the bank embarks on a new phase of strategic growth, it said Mr Kanda’s leadership would build on ADB’s strong legacy while also positioning the institution to address future challenges and opportunities.
It said the decision to elect Mr Kanda was unanimous, and reflected a broad confidence in his ability to steer ADB during a time of significant change.
“His extensive background in managing complex economic policies and his hands-on experience in multilateral settings will be invaluable as ADB continues to adapt to a rapidly changing global landscape.”
ADB is a leading multilateral development bank supporting sustainable, inclusive, and resilient growth across Asia and the Pacific.
Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard the planet.
NOTE: This article was first published in the print edition of the Fiji Times dated MARCH 8, 2025.
