Masatsugu Asakawa

President Asakawa meets with OECD Secretary-General Angel Gurria
On 25 November 2020, President Masatsugu Asakawa and OECD Secretary-General Angel Gurria held a virtual meeting to discuss support for their COVID-19 responses and agreed to further strengthen collaboration on key areas to ensure robust and sustainable recovery from the pandemic such as economic analysis, domestic resource mobilization, international tax cooperation, and anticorruption. The President highlighted ADB’s $20 billion COVID-19 response package and ADB’s plans for support for vaccine roll-out in Asia and the Pacific. The leaders agreed to deepen collaboration through the Regional Hub on domestic resource mobilization and international tax cooperation that ADB announced at its Annual Meeting in September this year, to be launched officially in 2021. Read the news release.

President Asakawa and UK Alternate Governor discuss climate-resilient recovery from COVID-19
President Masatsugu Asakawa and UK Minister for Asia at the Foreign, Commonwealth and Development Office and ADB Alternate Governor Nigel Adams met in person in Ortigas, Philippines on 20 November 2020 to discuss cooperation on shared priorities for Asia and the Pacific, including the need for a low carbon and climate resilient recovery from COVID-19. “I am sure there are many other opportunities for us to build on the strong relationship between the UK and ADB, such as on gender—including girls’ education—support in fragile and conflict affected situations, deepening engagement with the Association of Southeast Asian Nations on green infrastructure, the COVID-19 response, and vaccine deployment,” the President said. He also thanked the UK for its strong support on ADF 13 as well as the Technical Assistance Special Fund. Read the news release.

President Asakawa discussed the deepening and long-standing partnership with Thailand
President Masatsugu Asakawa and Thailand’s Finance Minister and ADB Governor Arkhom Termpittayapaisith on 13 November 2020 discussed via video conference ADB’s response to the COVID-19 pandemic and the deepening of the ADB-Thailand partnership. The President congratulated Minister Arkhom on his appointment as Finance Minister. The Minister expressed his appreciation for ADB’s long-term partnership with Thailand and its financial and technical support particularly the recently approved $1.5 billion COVID-19 Pandemic Response Option (CPRO) loan. President Asakawa assured Minister Arkhom of ADB’s continued engagement with Thailand, through seamless ‘One ADB’ support combining sovereign and non-sovereign programs, financial and knowledge solutions, and support for regional cooperation and integration. He briefed the Minister on the regional hub for Asia and the Pacific on domestic resource mobilization and international tax cooperation and invited Thailand to join the hub. Minister Arkhom appreciated the initiative as being highly beneficial to borrowing member countries, including Thailand, in their recovery effort from the COVID-19 pandemic.

President Asakawa and Luxembourg ADB Governor discuss COVID-19 challenges and partnership
ADB President Masatsugu Asakawa and Luxembourg Finance Minister and ADB Governor Pierre Gramegna on 11 November 2020 discussed ADB’s response to COVID-19, the pandemic’s impact on developing members, and reviewed ADB and Luxembourg’s long-standing partnership. Mr. Asakawa thanked Luxembourg for its commitment to the 13th replenishment of the Asian Development Fund and its support over the years to ADB initiatives on financial sector development and climate change, in particular. The President briefed the Governor on ADB’s Article 6 Support Facility, the Climate Action Catalyst Fund, and ADB’s work with green bonds. The two parties also discussed the new financial vehicle for climate change Luxembourg is setting up, as a potential platform for future collaboration. Read the news release.

President Asakawa urges focus more on project implementation with stronger capacity and enhanced project design
President Masatsugu Asakawa in his keynote address at the Forum on Successful Project Design and Implementation on 10 November 2020 emphasized the critical importance of project implementation with appreciation to staff of ADB and implementation agencies who work hard to ensure that ADB’s planned commitments are effectively put into action. The President encouraged them to be flexible and agile to adapt to the COVID-19 pandemic with more frequent communication.
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Donors Agree Replenishment of More Than $4 Billion for ADB's Grant Funds
Donors have agreed to a replenishment in excess of $4 billion for ADB’s Asian Development Fund (ADF) 13 and Technical Assistance Special Fund (TASF) 7, for the 4-year period from 2021 to 2024. -
ADB Set to Begin Second Stage of 2020 Annual Meeting
ADB will begin the second stage of its 53rd Annual Meeting of the Board of Governors via virtual meetings and online seminars on 17 September. -
Partnerships Critical to Overcome COVID-19 Crisis, Says ADB President
The COVID-19 pandemic has reinforced the need for stronger and more strategic partnerships in Asia and the Pacific, ADB President Masatsugu Asakawa said at the launch of a new report released today. -
Rebuilding from COVID-19 Requires Green, Resilient, Inclusive Actions — ADB President
The SDGs and related targets in the Paris Agreement on climate change provide strong frameworks for the recovery from the COVID-19 pandemic in Asia and the Pacific, ADB President Masatsugu Asakawa said at a high-level event... -
'Safety, Data, and Green' the Keywords to Transport Sector's Sustainable Recovery from COVID-19, Says ADB President
The transport sector must emerge from the COVID-19 pandemic as a driver of sustainable growth with three critical factors in mind—SDG, which in this case stands for “Safety, Data, and Green,” ADB President... -
ADB Approves $250 Million Loan to Support Myanmar's COVID-19 Response
ADB today approved a $250 million loan to help the Government of Myanmar respond to the COVID-19 pandemic by mitigating the impacts on people’s health, livelihoods, and the economy, while also ensuring that the poor and... -
Experts Call for Stronger Risk Management on Health and Water Disasters in Wake of COVID-19 Pandemic
Stronger and more integrated risk management is needed on health and water-related disasters in the wake of the coronavirus disease (COVID-19) pandemic, experts heard today at an international online conference held in the presence of... -
ADB President, ICRC President Discuss Collaboration in Fragile and Conflict-Affected States
ADB President Masatsugu Asakawa and ICRC President Peter Maurer discussed areas of potential collaboration given the increasing overlap of development issues with the humanitarian and peace issues. -
$1.5 Billion ADB Loan to Support Thailand's COVID-19 Response
ADB is providing a $1.5 billion loan to support the Government of Thailand’s response to the COVID-19 pandemic. -
ADB's COVID-19 Response Reaches $9.3 Billion to End-July 2020
ADB committed $9.3 billion in financial resources in the last six months since early February when ADB started its initial response to support its developing member countries and the private sector to address the impact of...
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Asia and the Pacific Transport Forum 2020 - Masatsugu Asakawa
Opening remarks by Masatsugu Asakawa, President, Asian Development Bank, at the Asia and the Pacific Transport Forum 2020, 24 August 2020 -
The International Online Conference to Address Water-related Disaster Risk Reduction under the COVID-19 Pandemic - Masatsugu Asakawa
Speech by Masatsugu Asakawa, President, Asian Development Bank, 20 August 2020 -
Country Directors Forum: Strengthening Resident Missions in Extraordinary Times - Masatsugu Asakawa
Remarks by Masatsugu Asakawa, President, Asian Development Bank at the 2020 ADB Country Directors Forum, 17 August 2020 -
IEA Clean Energy Transitions Summit: Towards a Sustainable Recovery - Masatsugu Asakawa
Speech by Masatsugu Asakawa, President, Asian Development Bank at the International Energy Agency (IEA) Clean Energy Transitions Summit, 9 July 2020 -
Climate Finance and the Path to Recovery: Supporting Clean Energy in Asia and the Pacific amid the Challenges of COVID-19 - Masatsugu Asakawa
Opening remarks by Masatsugu Asakawa, President, Asian Development Bank at the Asia Clean Energy Forum 2020, 16 June 2020 -
Leading the Response and Recovery of Asia and the Pacific through Decisive Action, Country Presence, and Financial Strength - Masatsugu Asakawa
Remarks by Masatsugu Asakawa, President, Asian Development Bank at the 53rd ADB Annual Meeting of the Board of Governors Business Session, 22 May 2020 -
International Women’s Day - Masatsugu Asakawa
Opening remarks by Masatsugu Asakawa, President, Asian Development Bank on International Women’s Day, 11 March 2020 in ADB headquarters, Manila, Philippines -
Opening Remarks at the Book Launch for Indonesia and the Asian Development Bank: Fifty Years of Partnership – Masatsugu Asakawa
Remarks on the book launch for Indonesia and the Asian Development Bank: Fifty Years of Partnership, delivered by President Asakawa at the Ministry of Finance of the Republic of Indonesia, Jakarta, Indonesia, 2 March 2020 -
Leading through Global Influence and Strong Country Presence: My Vision for ADB as the Partner of Choice for Asia and the Pacific - Masatsugu Asakawa
Town Hall Address to ADB Staff by Masatsugu Asakawa, President, Asian Development Bank, at ADB Headquarters, Manila, Philippines, 5 February 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.