ADB’s new president is Masato Kanda

by times news cr

The Board of Directors of ‌the ‌Asian Development ​Bank (ADB) ‍has unanimously elected Masato‍ Kanda as the 11th President‌ of ADB. ⁤ ⁢ ​

kanda, 59, who⁤ succeeded Masatsugu Asakawa, ⁤currently serves as a special adviser to Japan’s ‍prime⁢ minister and finance⁤ minister.

Kanda will take over as ADB’s new president on February 24, 2025 and his term will end ​on February 23, 2026,⁢ the release said.
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Kanda will serve the unexpired term‍ of President Asakawa until‌ November 23, 2026. ⁢ ⁣​ ⁢ ‍ ‍

Fabio Panetta, Chairman of ADB’s ⁣Board of governors and Governor of the Bank⁣ of Italy, said, “Kanda’s extensive experience in international economics and⁤ skilled leadership‌ in a multilateral​ habitat will help ADB address complex global economic‌ challenges and‍ strengthen international cooperation.”

With nearly four decades of experience, Kanda ⁣has held key positions in Japan’s Ministry​ of Finance, including Vice ‍Minister for⁢ International Affairs.
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He has extensive experience ⁣in financial sector policy ⁤and⁣ macro-fiscal‍ policy. He has also served as Deputy Commissioner of Financial Services Agency, Deputy​ Director ‍General of Budget Bureau and Deputy Assistant Minister for Policy Planning and Coordination.

Kanda is actively involved in the G-7, G-20 and other international forums ⁢to address key policy challenges such as the ‌evolution of the Multilateral Development Bank‍ (MDB), pandemic prevention, preparedness and response, and debt sustainability ⁢and transparency.

Japan made‌ a⁣ record contribution of more than $1‍ billion to the 13th​ replenishment of the asian Development Fund during‍ his tenure as Deputy Minister of International Affairs.

Kanda⁢ has served ⁤as the Chairman of the OECD Corporate Governance Committee as 2016. He oversaw the 2023 review of the‌ G20/OECD Principles of Corporate Governance.

He also ‌has considerable ‍experience in⁣ strategic ⁤discussions and decision⁣ making in MDB. He served as Alternate Executive Director for Japan ‌at the World⁤ Bank.

Kanda received a Bachelor of‍ Laws from the University of Tokyo⁢ in 1987 and​ an MPhil in Economics from‍ the University of​ Oxford in 1991.

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What are the ‌key initiatives⁢ that ADB President ‍Masato Kanda plans⁣ to prioritize during his leadership at the ​asian Development ⁤Bank?

Interview between Time.news Editor and ADB President Masato Kanda

Time.news Editor (TNE): Good ⁢morning, Masato! Congratulations ⁢on your election as the 11th President of the⁣ Asian development Bank. This is ⁤an​ incredible achievement! How are you ‍feeling about this new role?

Masato Kanda (MK): Good​ morning,and‍ thank you so ‍much! I am both honored and⁤ excited ⁤to ⁤step into this leadership position. The ADB⁤ has a crucial mission in fostering sustainable economic growth and improving the quality of life in Asia. I look forward to contributing to this goal.

TNE: That sounds ​fantastic! could you share your vision for ADB under your leadership? what ⁣key initiatives do you plan to prioritize?

MK: ‍Certainly. My vision‍ for ADB revolves ⁣around ‌three pillars: sustainable development, inclusive⁣ growth,⁢ and digital ⁣conversion. We need to ‌address ​pressing‍ issues like climate change ⁤and ⁢inequality in the⁣ region.‍ I plan to focus on innovative financing solutions and collaborate closely with ​member countries to implement impactful ​projects.

TNE: Climate change is a major concern for⁢ many nations today. How does the ADB plan to tackle ‌environmental issues and support member countries in their ⁣sustainability goals?

MK: The ADB has⁤ already taken steps in​ this ​direction,but I⁢ intend to⁣ enhance our commitment ⁢significantly.⁢ we ⁤will increase investments in‌ renewable energy projects and ⁢support member countries in their​ transition ⁣to greener economies. Capacity building and​ knowlege sharing will also be⁢ vital in helping ‍nations ​adapt to climate impacts.

TNE: You’ve⁣ mentioned digital transformation⁤ as ​part of your vision. Can you elaborate on how the ADB plans ⁢to leverage technology for development?

MK: Digital technology has revolutionized ​many ⁢sectors, and we aim to harness its potential to improve efficiency⁢ and accessibility in development projects.We’ll⁢ focus⁢ on enhancing digital infrastructure and promoting digital⁢ literacy. By ⁣doing so, we⁤ can‍ empower communities⁤ and create a more inclusive society.

TNE: Collaboration ‍is often vital in achieving development goals. ⁣How do ⁣you plan to foster partnerships ​between ADB and other organizations or ⁤countries?

MK: Partnerships will​ be key to our​ success.⁢ I⁣ believe in⁢ strengthening our collaborations‍ with other development banks, international organizations, ⁤and the private sector. By pooling resources‍ and‌ expertise, we⁣ can tackle challenges⁣ more effectively and innovate solutions ⁣that have a broader impact.

TNE: As you embark on​ this new journey, what do you see as the⁣ biggest challenge facing the ADB ⁢and its member countries today?

MK: One ​of the biggest challenges is ⁣ensuring that all countries can recover and thrive post-pandemic. The economic impacts of COVID-19 have been significant, and​ some regions ‍are struggling more then others.⁤ We must‍ address these disparities and ensure that development​ efforts are resilient and sustainable moving forward.

TNE: thank you, Masato, for ⁤sharing your insights and ⁣vision. It’s clear‍ that you have a⁤ strong plan for⁣ the ADB. As ​you begin your presidency,do you ⁢have a message for the ⁢staff​ and ⁤member countries?

MK: I would like to emphasize the importance of unity and collaboration. Together, we can achieve remarkable things.I am here to ​listen and learn from each ‌member country and our⁤ staff, and I genuinely⁣ believe that by working‌ hand-in-hand, we can build a more prosperous future for all in Asia.

TNE: ⁤ Thank you,‌ Masato, for your time today. We⁣ wish you ​the best ‌in your presidency and look forward to seeing the positive​ changes at‌ ADB.

MK: Thank you very​ much! ⁢I’m excited for‌ the​ journey ⁤ahead.

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