Masato Kanda Elected as ADB President

December 2, 2024

The Asian Development Bank (ADB) has appointed Masato Kanda as its 11th President. His term begins on February 24, 2025, and succeeds Masatsugu Asakawa, who will leave office the day before. Kanda will complete Asakawa’s term, which ends on November 23, 2026.

Background of Masato Kanda

Masato Kanda is 59 years old and currently serves as a Special Advisor to Japan’s Prime Minister and Minister of Finance. Kanda has nearly 40 years of experience in finance. He held roles at Japan’s Ministry of Finance. His positions included Vice-Minister of Finance for International Affairs.

Key Contributions and Experience

Kanda has extensive experience in financial policy. He has worked on education and science policy. He also contributed to university reform in Japan. He has represented Japan in global forums such as the G7 and G20. His focus has been on development bank reforms and pandemic preparedness.

Kanda was instrumental in Japan’s contribution to the Asian Development Fund. Japan’s contribution exceeded $1 billion. This funding supports various development initiatives across Asia.

Leadership Roles

Since 2016, Kanda has chaired the OECD Corporate Governance Committee. He has made decisions at major international development banks. He served as Alternate Executive Director for Japan at the World Bank.

Educational Qualifications

Masato Kanda holds a Bachelor of Laws from the University of Tokyo. He also earned a Master’s in Economics from Oxford University. His educational background supports his expertise in finance and governance.

Important Facts for Exams:
OECD – The Organisation for Economic Co-operation and Development promotes policies for economic growth and social well-being. It consists of 38 member countries, primarily from Europe and North America.
G20 – The Group of Twenty is an international forum for governments and central bank governors. It addresses major global economic issues and includes 19 countries plus the European Union.
Asian Development Fund – The ADB was established in 1966. Its mission is to encourage prosperity and eliminate poverty in Asia and the Pacific. The bank is owned by 69 members, with 49 from the region.

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