The Board of Governors of the Asian Development Bank (ADB) has unanimously elected Masato Kanda as the institution’s 11th president.
Kanda, aged 59, currently serves as special adviser to Japan’s prime minister and minister of finance.
He is slated to assume office on 24 February 2025, succeeding Masatsugu Asakawa, whose term concludes on 23 February 2025, ADB said in a statement on Thursday (28 November).
Kanda will serve the remainder of President Asakawa’s unexpired term, which ends on 23 November 2026.
“Kanda’s extensive experience in international finance and proven leadership in multilateral settings will serve ADB well in navigating complex global economic challenges and fostering international cooperation,” stated Fabio Panetta, chair of the ADB Board of Governors and governor of the Bank of Italy. “The ADB Board of Governors looks forward to working with Kanda.”
With nearly four decades of experience, Kanda has held prominent roles within Japan’s Ministry of Finance, including Vice-Minister of Finance for International Affairs. His expertise spans financial sector policy, macro-fiscal policy, education, and university reform. He has also held positions as Deputy Commissioner at the Financial Services Agency, Deputy Director-General of the Budget Bureau, and Deputy Vice-Minister for Policy Planning and Coordination.
An active participant in international policymaking, Kanda has contributed to the G7, G20, and other global forums, tackling critical issues such as multilateral development bank (MDB) reforms, pandemic preparedness, and debt sustainability. During his tenure as Vice-Minister of Finance for International Affairs, Japan made a record-breaking contribution exceeding $1 billion to the Asian Development Fund’s 13th replenishment (ADF 14).
Since 2016, Kanda has chaired the OECD Corporate Governance Committee, spearheading the review of the G20/OECD Principles of Corporate Governance in 2023. Additionally, he has gained considerable experience in strategic decision-making at MDBs, serving as Japan’s Alternate Executive Director at the World Bank.
Kanda holds a Bachelor of Laws degree from the University of Tokyo (1987) and an M.Phil in Economics from Oxford University (1991).
ADB, established in 1966, is dedicated to fostering a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, with a continued commitment to eradicating extreme poverty. The institution is owned by 69 member countries, 49 of which are from the region.
