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The Asia Development Bank has named Masato Kanda, a former Japanese vice-minister of finance for international affairs, as its 11th president, assuming office immediately and succeeding Masatsugu Asakawa.
Kanda, who has four decades of experience in international finance and development policy, the ADB notes, “is widely recognized for his forward-thinking leadership and decisive interventions during periods of market volatility”.
During his tenure as Japan’s vice-minister of finance for international affairs, the Manila-based development bank adds, “he was instrumental in pioneering innovative financial solutions and orchestrating policy actions that helped stabilize markets.”
The bank’s board of governors’ decision to elect Mr. Kanda was unanimous, reflecting, it points out, “broad confidence in his ability to steer the 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 the ADB continues to adapt to a rapidly changing global landscape.”
The ADB, founded in 1966, supports sustainable, inclusive and resilient growth across the Asia-Pacific region by working with its 69 owner-members ( 49 of whom are from the region ) and partners, it shares, “to solve complex challenges by harnessing innovative financial tools and strategic partnerships to transform lives, build quality infrastructure and safeguard our planet”.
“Masato Kanda brings a wealth of experience and a refreshing perspective to the ADB,” says Fabio Panetta, the chairman of the bank’s board of governors. “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 […] to deliver targeted and impactful solutions for our developing member countries.”
