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Louella Desiderio - The Philippine Star
February 25, 2025 | 12:00am
MANILA, Philippines — New Asian Development Bank (ADB) president Masato Kanda officially assumed office yesterday, vowing that the multilateral lender will take action on challenges affecting the Asia-Pacific.
Kanda, who was elected by the ADB Board of Governors as the multilateral lender’s 11th president, succeeds Masatsugu Asakawa, who stepped down from the role effective Feb. 23, 2025.
“I am deeply honored to take on the role of ADB president at this important moment for our region,”Kanda 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 said.
He said he would harness the collective expertise within the ADB and work closely with partners to drive transformative change.
“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 is stepping into the role with nearly four decades of experience in international finance and development policy.
He previously served as Japan’s vice minister of finance for international affairs and was instrumental in pioneering innovative financial solutions and orchestrating policy actions that helped stabilize markets.
“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,” ADB Board of Governors chair Fabio Panetta said.
“I am confident that under his leadership, ADB will deliver targeted and impactful solutions for our developing member countries,” he also said.
Kanda’s appointment underscores the ADB’s commitment to addressing developing member countries’ needs.
As ADB enters a new era of strategic growth, Kanda’s leadership is expected to build on the institution’s strong legacy and address future challenges and opportunities.
