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▼ Japan's Ex-Top Currency Diplomat Kanda Takes Office As ADB Chief
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Japan's former top currency diplomat Masato Kanda assumed office on Monday as president of the Asian Development Bank, the Manila-based international lender said.
As its 11th president, Kanda vowed to advance the "ADB's mission to promote sustainable, inclusive, and resilient growth" and "respond to pressing development challenges." He succeeded Masatsugu Asakawa, another former senior official of Japan's Finance Ministry.
Japan, a leading shareholder in the ADB along with the United States, has supplied the bank's chief since the institution was established in 1966 to eradicate extreme poverty and support development in the Asia-Pacific region.
Kanda will serve the remaining term of Asakawa until Nov 23, 2026.
During his tenure as vice finance minister for international affairs, Kanda was behind massive market interventions by Japan aimed at stemming the yen's sharp decline against the U.S. dollar and other major currencies. He left the post in July after serving for three years.
He also served as a special adviser to the cabinet of then Japanese Prime Minister Fumio Kishida.
As its 11th president, Kanda vowed to advance the "ADB's mission to promote sustainable, inclusive, and resilient growth" and "respond to pressing development challenges." He succeeded Masatsugu Asakawa, another former senior official of Japan's Finance Ministry.
Japan, a leading shareholder in the ADB along with the United States, has supplied the bank's chief since the institution was established in 1966 to eradicate extreme poverty and support development in the Asia-Pacific region.
Kanda will serve the remaining term of Asakawa until Nov 23, 2026.
During his tenure as vice finance minister for international affairs, Kanda was behind massive market interventions by Japan aimed at stemming the yen's sharp decline against the U.S. dollar and other major currencies. He left the post in July after serving for three years.
He also served as a special adviser to the cabinet of then Japanese Prime Minister Fumio Kishida.
- 25/2 21:00
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