Masatsugu Asakawa assumes office as president of ADB

• Asakawa succeeds Takehiko Nakao, who stepped down on 16 January 2020.

Japanese financial expert Masatsugu Asakawa has assumed office as the 10th President of the Asian Development Bank (ADB) on Friday.

"I am honored to assume the role of ADB President and to begin working in close cooperation with our 68 members. ADB has been a trusted partner of the region for more than half a century, supporting strong growth that has improved the lives of people across Asia and the Pacific. I will strive to ensure ADB remains the preferred choice of its clients and partners," Asakawa said in a statement.

Asakawa succeeds Takehiko Nakao, who stepped down on 16 January 2020.

In a career spanning close to four decades, Asakawa has held a range of senior positions at the Ministry of Finance of Japan, including Vice Minister of Finance for International Affairs.

He served as Finance Deputy for the 2019 G20 Osaka Summit and the G20 Finance Ministers and Central Bank Governors meeting in Fukuoka, Japan.

“I am thrilled to be in Manila, where I will dedicate myself to ADB members in the region and beyond, while listening carefully to their voices. With the expertise of ADB staff, and by further enhancing its effectiveness and efficiency, I am confident that ADB can stand up to the challenges that the region faces. I pledge to do my best to achieve a more prosperous, inclusive, resilient, and sustainable Asia and the Pacific,” he said.