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.
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.
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.