New ADB President Masato Kanda Assumes Office

Masato Kanda officially assumed office as the 11th President of the Asian Development Bank (ADB) in Manila (Philippines) on Monday, the bank said in an official statement received here

ISLAMABAD, (UrduPoint / Pakistan Point News - 24th Feb, 2025) Masato Kanda officially assumed office as the 11th President of the Asian Development Bank (ADB) in Manila (Philippines) on Monday, the bank said in an official statement received here.

“I am deeply honored to take on the role of ADB President at this important moment for our region,” the statement quoted Kanda as having said.

“With the trust of our 69 members and strong support of our dedicated staff, I am committed to advancing ADB’s mission to promote sustainable, inclusive, and resilient growth. Together, we will respond to pressing development challenges, ensuring that ADB remains the partner of choice for the region,” he added.

Kanda succeeds Masatsugu Asakawa, continuing a legacy of excellence and innovation. With nearly four decades of experience in international finance and development policy, Kanda is widely recognized for his forward-thinking leadership and his decisive interventions during periods of market volatility.

During his tenure as Japan’s Vice-Minister of Finance for International Affairs, he was instrumental in pioneering innovative financial solutions and orchestrating policy actions that helped stabilize markets.

“Masato Kanda brings a wealth of experience and a refreshing perspective to ADB. 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,” said Chair of the ADB Board of Governors Fabio Panetta.

“I am confident that under his leadership, ADB will deliver targeted and impactful solutions for our developing member countries,” Panetta added.

“I am ready to harness the collective expertise within our organization and work closely with our partners to drive transformative change, especially for those most in need,” Kanda added, reflecting on his appointment.

“Our focus will be on pragmatic actions that deliver real results, ensuring that our support creates lasting improvements in the lives of people throughout Asia and the Pacific,” he said.

Kanda’s appointment underscores ADB’s ongoing evolution and its commitment to meeting the dynamic needs of its developing member countries. As the bank embarks on a new phase of strategic growth, his leadership will build on ADB’s strong legacy while also positioning the institution to address future challenges and opportunities.

The ADB Board of Governors’ decision to elect Kanda was unanimous, reflecting broad confidence in his ability to steer ADB during a time of significant change, the statement said.

His extensive background in managing complex economic policies and his hands-on experience in multilateral settings will be invaluable as ADB continues to adapt to a rapidly changing global landscape, it added.