The Asian Development Bank (ADB) announced today that it has selected Masato Kanda, former finance minister and head of the international finance division at the Ministry of Finance, as its next president.

Mr. Masato Kanda
“In addition to traditional issues such as infrastructure and poverty reduction, I would like to boldly and fully address all issues, including global issues such as climate change.”

Masato Kanda, who was unanimously elected as the 11th president of the Asian Development Bank by the 69 member countries and regions in a vote of confidence, will hold the position of finance minister, the head of the international finance division of the Ministry of Finance, until the end of July this year. I served for three years.

In 2022 and this year, in response to the historic depreciation of the yen, the currency intervened by selling dollars and buying yen on a scale of over 24 trillion yen, earning it the nickname “Mr. Yen of Reiwa.”

The Asian Development Bank is a development financial institution serving the Asia-Pacific region, and its past presidents have all been selected from Japan, which is the largest financial contributor.

Mr. Kanda’s term of office will begin from February next year and end in November 2026, the remainder of his predecessor’s term.