Masatsugu Asakawa
President Asakawa meets with heads of multilateral development banks
President Masatsugu Asakawa on 10 December 2020 met with the heads of multilateral development banks (MDBs) and the International Monetary Fund to discuss the role of MDBs in building a more resilient post-COVID-19 world and MDBs’ engagement with global fora. President Asakawa shared updates on the economic outlook of Asia and the Pacific, and on ADB’s response to the pandemic including the Asia Pacific Vaccine Access Facility proposal. He conveyed his views on MDBs’ role in optimizing their balance sheets and emphasized ADB’s priorities to enable green, resilient, and inclusive recovery. The heads committed to close collaboration to support developing members' recovery from the crisis. Read the news release.
President Asakawa underscores ADB's commitment to combat illicit financial flows at International Anticorruption Day celebration
President Masatsugu Asakawa emphasized how ADB's anticorruption measures and capacity building initiatives complement efforts by media and civil society in fighting illicit financial flows at the 10th celebration of ADB's International Anticorruption Day, held on 9 December 2020. Under the theme Strengthening Governance Systems to Combat Illicit Financial Flows at a Time of COVID-19, Sarawak Report Founder and journalist Clare Rewcastle Brown shared her 1MDB investigation experience. Policy Director at Global Financial Integrity, Lakshmi Kumar highlighted the regional policy interventions that can strengthen efforts against illicit financial flows. Read the President's speech.
President Asakawa discusses COVID-19, collaboration opportunities with regional development bank heads
President Masatsugu Asakawa on 8 December 2020 met with heads of regional development banks - African Development Bank President Akinwumi Adesina, European Bank for Reconstruction and Development President Odile Renaud-Basso, and Inter-American Development Bank President Mauricio Claver-Carone. They discussed challenges faced by regional development banks in the context of the COVID-19 pandemic and opportunities for collaboration during the recovery period. President Masa noted that vaccine access and delivery; green, resilient, and inclusive economic recovery and digitalization; optimization of balance sheets including exposure exchanges; domestic resource mobilization; and institutional development as possible areas for collaboration. The heads showed interests in experience and lessons learned in vaccine support, climate finance, and work environment during the pandemic that will affect how regional development banks will work in the future. AfDB turned over role of chairing the RDB heads meetings for 2021 to EBRD.
President Asakawa urges CAREC countries to embrace digitalization to strengthen COVID-19 recovery
In a keynote address at the 19th CAREC Ministerial Conference on 7 December 2020, President Masatsugu Asakawa highlighted the importance of digitalization and the private sector to accelerate regional cooperation and drive innovation as the CAREC region bounces back from the COVID-19 crisis. He joined Afghanistan President Ashraf Ghani, and other senior officials from CAREC’s 11 member countries at the virtual meeting on 7 December which endorsed the CAREC Program Results Framework, the Tourism Strategy 2030, and the Gender Strategy 2030. Read the news release.
President Asakawa addresses regional challenges at high-level anticorruption panel
President Masatsugu Asakawa on 1 December 2020 discussed the key regional challenges arising from corruption and the flow of dirty money at the 19th International Anti-Corruption Conference opening plenary session, Designing 2030: Truth, Trust, and Transparency. In his speech, the President outlined how IFIs like ADB must address these challenges through the operations they finance, the knowledge solutions they provide, and the partnerships they convene.
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ADB Provides $20 Million to Help Cook Islands Respond to COVID-19
The Asian Development Bank (ADB) has approved a $20 million loan to help the Government of Cook Islands manage the social and economic impacts of the coronavirus disease (COVID-19) pandemic. -
ADB President, UK Minister for Asia Agree to Strengthen Cooperation on Climate Resilient Recovery from COVID-19
MANILA, PHILIPPINES (20 November 2020) — Asian Development Bank (ADB) President Masatsugu Asakawa and UK Minister for Asia at the Foreign, Commonwealth and Development Office and ADB Alternate Governor Nigel Adams met today to discuss cooperation on shared priorities for Asia and the Pacific, including the need for a low carbon and climate resilient recovery from the coronavirus disease (COVID-19) pandemic. -
ADB Provides $14 Million Grant to Help FSM Respond to COVID-19
ADB has approved a $14 million grant to help the Government of the Federated States of Micronesia respond to the coronavirus disease (COVID-19) pandemic. -
ADB President, Luxembourg Minister of Finance Discuss Boosting Partnership
ADB President Masatsugu Asakawa and Luxembourg Minister of Finance and ADB Governor Pierre Gramegna in a call today discussed the ADB–Luxembourg partnership in Asia and the Pacific and responses to the COVID-19 pandemic. -
ADB Approves Policy Framework for Exposure Exchanges with Multilateral Development Banks
The Asian Development Bank (ADB) today approved a new policy framework to guide its collaboration with multilateral development banks (MDBs) on sovereign exposure exchanges to manage risks created by the concentration of loans in a small... -
ADB Urges Southeast Asian Countries to Close Digital Divide, Promote Equitable Growth Amid COVID-19
ADB President Masatsugu Asakawa today urged Southeast Asian countries to expand investments in digital infrastructure and ensure equitable access to technology as economies recover from the COVID-19 pandemic. -
ADB Endorses New 5-Year Partnership Strategy for Indonesia
ADB has endorsed its 2020–2024 country partnership strategy for Indonesia, which aims to apply the full range of financing support and solutions through ADB’s sovereign and private sector operations along with its... -
ADB Vows to be Developing Asia's Partner for Recovery From COVID-19
ADB is committed to partnering with developing economies in Asia and the Pacific to achieve their recovery goals from the COVID-19 pandemic, President Masatsugu Asakawa said in an address to ADB’s Board of Governors today. -
Finance and Health Ministers Pledge Support for Universal Health Coverage
More than 40 finance and health ministers and deputy ministers from across Asia and the Pacific stressed the importance of universal health coverage and the need for stronger collaboration to mobilize healthcare financing during the... -
ADB to Establish Regional Hub to Help Economies Improve Domestic Resource Mobilization and Tax Cooperation
ADB is establishing a regional hub to promote knowledge sharing and strengthen cooperation on tax policy and tax administration across economies in Asia and the Pacific and their development partners.
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Meeting of the Advisory Group on Digital Technology - Masatsugu Asakawa
Opening remarks by Masatsugu Asakawa, President, Asian Development Bank, at the Meeting of the ADB Advisory Group on Digital Technology, 24 September 2020 -
A Steadfast Partner in Times of Uncertainty: ADB’s Support for Pandemic Response and Recovery in Asia and the Pacific- Masatsugu Asakawa
Address to the Board of Governors by Masatsugu Asakawa, President, Asian Development Bank, at the 53rd ADB Annual Meeting Business Session, 18 September 2020 -
Fighting COVID-19 Together with ASEAN+3 - Masatsugu Asakawa
Speech by Masatsugu Asakawa, President, Asian Development Bank, at the ASEAN+3 Finance Ministers’ and Central Bank Governors’ Joint Meeting (AFMGM+3), 18 September 2020 -
Achieving the Sustainable Development Goals by Strengthening Domestic Resource Mobilization and International Tax Cooperation - Masatsugu Asakawa
Remarks by Masatsugu Asakawa, President, Asian Development Bank at the Webinar on Domestic Resource Mobilization and International Tax Cooperation, 17 September 2020 -
Joint Ministers of Finance and Health Symposium on Universal Health Coverage in Asia and the Pacific: COVID-19 and Beyond - Masatsugu Asakawa
Opening Remarks by Masatsugu Asakawa, President, Asian Development Bank, at the Joint Ministers of Finance and Health Symposium on Universal Health Coverage in Asia and the Pacific: COVID-19 and Beyond, 17 September 2020 -
Meeting of Governors of Pacific Developing Member Countries with ADB Management - Masatsugu Asakawa
Opening speech by Masatsugu Asakawa, President, Asian Development Bank at the Meeting of Governors of Pacific Developing Member Countries with ADB Management, 16 September 2020 -
Asian Development Fund 13 and Technical Assistance Special Fund 7 Replenishment Meeting - Masatsugu Asakawa
Opening remarks by Masatsugu Asakawa, President, Asian Development Bank at the ADF 13 and TASF 7 Replenishment Meeting, 16 September 2020 -
Promoting Gender Equality in COVID-19 Response - Masatsugu Asakawa
Opening remarks by Masatsugu Asakawa, President, Asian Development Bank, at the ADB-UN Webinar on Promoting Gender Equality in COVID-19 Response, 10 September 2020 -
ASEAN Foreign Ministers Meeting - Masatsugu Asakawa
Speech by Mastsugu Asakawa, President, Asian Development Bank, at the ASEAN Foreign Ministers Meeting Special Session of the ASEAN Coordinating Council on Sub-Regional Development, 9 September 2020 -
Financing for Development in the Era of COVID-19 and Beyond in Asia and the Pacific - Masatsugu Asakawa
Opening Remarks by Masatsugu Asakawa, President, Asian Development Bank, at the Financing for Development in the Era of COVID-19 and Beyond in Asia and the Pacific Conference (hosted by ESCAP), 31 August 2020
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Masatsugu Asakawa is the President of the Asian Development Bank (ADB) and the Chairperson of ADB’s Board of Directors. He was elected President by ADB’s Board of Governors and assumed office on 17 January 2020.
Prior to joining ADB, he served as Special Advisor to Japan’s Prime Minister and Minister of Finance, and has a close-to-four decades’ career at the Ministry of Finance with diverse professional experience that cuts across both domestic and international fronts.
In the immediate aftermath of the Global Financial Crisis, Mr. Asakawa, in his capacity as Executive Assistant to Prime Minister Taro Aso, took part in the first G20 Leaders’ Summit Meeting in November 2008. He was instrumental in orchestrating a globally coordinated financial package to abate the financial crisis, including a $100 billion loan from Japan to the International Monetary Fund (IMF). Then in 2016, in his capacity as Vice Minister of Finance for International Affairs, he took on a leading role for the G7 Finance Ministers and Central Bank Governors’ meeting in Sendai under the Japanese presidency, where a sustainable and inclusive development agenda was extensively discussed.
Most recently, he served as Finance Deputy for the G20 meetings under the Japanese presidency, playing a pivotal role for the success of the G20 Osaka Summit as well as the G20 Finance Ministers and Central Bank Governors’ meeting in Fukuoka. Some of his outstanding achievements in Osaka include the endorsement by the G20 Leaders of the “G20 Principles for Quality Infrastructure Investment” and the “G20 Shared Understanding on the Importance of UHC Financing in Developing Countries”. Before these, he had occupied various prominent positions within the Finance Ministry, including director positions in charge of development policy issues, foreign exchange markets, and international tax policy.
Mr. Asakawa’s professional experience extends beyond the realms of the Japanese government. Most notably, he served as Chief Advisor to ADB President Kimimasa Tarumizu between 1989 and 1992, during which time he spearheaded the creation of a new office focused on strategic planning. Also, he had frequent engagement with the Organisation for Economic Co-operation and Development in such positions as Chair for Committee on Fiscal Affairs (2011–2016). Furthermore, he was a senior staff at the Fiscal Affairs Department of the IMF (1996–2000). In the meantime, he gave lectures as Visiting Professor at the Graduate School of Economic Science, Saitama University (2006–2009), and at the Graduate School of Arts and Sciences, University of Tokyo (2012–2015).
Mr. Asakawa obtained his BA from University of Tokyo (Economics Faculty) in 1981, and MPA from Princeton University, USA, in 1985.