ADB names Ja­panese in­ter­na­tional fi­nance, dev’t expert as its next pres­i­dent

Business World - - Front Page - Laforga B. M.

THE ASIAN DEVEL­OP­MENT BANK (ADB) on Mon­day an­nounced the se­lec­tion of Masat­sugu Asakawa, spe­cial ad­vi­sor to Ja­pan’s Prime Min­is­ter Shinzo Abe and Fi­nance Min­is­ter Taro Aso, as its pres­i­dent start­ing next year.

In a state­ment on Mon­day, ADB said Mr. Asakawa will as­sume of­fice on Jan. 17 next year, suc­ceed­ing Take­hiko Nakao who steps down on Jan. 16.

Mr. Asakawa will serve the bal­ance of Mr. Nakao’s term which ends on Nov. 23, 2021, ADB said.

He had been vice-min­is­ter of Fi­nance for In­ter­na­tional Af­fairs, and had been en­gaged in devel­op­ment pol­icy, for­eign exchange mar­kets and in­ter­na­tional tax pol­icy.

“Mr. Asakawa’s ex­ten­sive, di­verse ex­pe­ri­ence in in­ter­na­tional

fi­nance and devel­op­ment will serve ADB well in pur­su­ing its vi­sion of a pros­per­ous, in­clu­sive, re­silient and sus­tain­able Asia and the Pa­cific,” Hong Nam-Ki, chair­man of ADB’s Board of Gover­nors as well as the deputy prime min­is­ter and min­is­ter of econ­omy and fi­nance of South Korea, said in the state­ment.

ADB said Mr. Asakawa had also served as the Fi­nance Deputy for the 2019 G20 Osaka Sum­mit and the G20 Fi­nance Min­is­ters and Cen­tral Bank Gover­nors meet­ing in Ja­pan.

In the im­me­di­ate af­ter­math of the global financial cri­sis back in 2008, he par­tic­i­pated in the first G20 Lead­ers’ Sum­mit Meet­ing as the ex­ec­u­tive es­sis­tant to then Prime Min­is­ter Taro Aso.

Mr. Asakawa was vis­it­ing pro­fes­sor at the Univer­sity of Tokyo from 2012 to 2015 and at Saitama Univer­sity from 2006 to 2009.

He ob­tained his Bach­e­lor of Arts from the Univer­sity of Tokyo in 1981 and MPA from Prince­ton Univer­sity in 1985. —

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