Japan’s Nakao to lead ADB for five more years
Takehiko Nakao, a former senior finance ministry official in Japan, is to serve for five more years as president of the Asian Development Bank (ADB), the Manilabased lender said.
Mr Nakao, who turns 60 this year, had succeeded compatriot Haruhiko Kuroda in April 2013. The ADB, set up in 1966, is owned by 67 member-countries led by Japan and the United States. It approved a record US$16.3 billion in loans and grants to the region last year, including $2.6 billion to the private sector.