The Asian Development Bank (ADB) has held a vote of confidence among its member countries and regions to elect a successor to replace Mr. Masatsugu Asakawa - who announced his intention to resign as President on September 9.
As a result, Mr. Masato Kanda - Former Vice Minister of Finance of Japan - in charge of international affairs, was elected as the next President of ADB. He is also the 11th President of this bank.
Mr. Masato Kanda, 59, started working for the Ministry of Finance in 1987 and then held various important positions before becoming Vice Minister of Finance in charge of international affairs from 2021 until July this year. After retiring from the Ministry of Finance, he served as Special Advisor to the Cabinet Secretariat for International Finance and Economics to former Prime Minister Fumio Kishida.
Former Japanese Vice Finance Minister Masato Kanda was elected the 11th President of ADB. (Photo: NHK)
Masato Kanda, who was behind Japan’s major market interventions earlier this year to stem the yen’s sharp decline against the dollar and other major currencies, is also widely regarded as knowledgeable about Asian affairs and has built close relationships with officials from many countries and executives at international organizations.
Japan has been the largest financial contributor to the ADB since its establishment in 1966, and all of its previous presidents have been Japanese. Mr. Kanda is expected to officially assume the role of ADB President from February next year.
Source: https://vtcnews.vn/former-minister-of-finance-nhat-ban-duoc-bau-lam-chu-cich-adb-ar908983.html
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