Masatsugu Asakawa

President Masatsugu Asakawa attended the G20 Leaders’ Summit on 15-16 November 2022 in Bali. He participated in the leaders’ discussions on food and energy security, where he highlighted ADB’s work on energy transition, including our collaboration with Indonesia on ETM. He also emphasized ADB’s commitment to supporting food security in its developing member countries DMCs through the $14 billion package announced at the ADB Annual Meeting in September. In the leaders’ session on digital transformation, President Asakawa noted the importance of closing the digital divide and summarized ADB’s work in this area. The President also delivered a keynote speech at the B20 Summit. President Asakawa on 14 November also met with the People’s Republic of China Ministry of Finance Vice-Minister Wang Dongwei in Bali, Indonesia at the sidelines of the G20 meeting. They discussed the ADB-PRC partnership, progress and challenges of ADB’s operations in the PRC, and the implementation of the ADB-PRC Country Partnership Strategy (2021-2025).  

The grand launch of the Indonesia Energy Transition Mechanism (ETM) Country Platform was held in Bali, Indonesia on 14 November 2022, co-organized by the Ministry of Finance, PT Sarana Multi Infrastruktur (PT SMI), and ADB. President Masatsugu Asakawa opened the event congratulating Indonesia’s government and Minister of Finance and ADB Governor Sri Mulyani Indrawati for the leadership and significant progress made since the ETM Southeast Asia Partnership launch last year at COP26, including the $500 million in-principle endorsement from the Climate Investment Fund Accelerating Coal Transition program and a landmark memorandum of understanding (MOU) to explore the first private sector ETM transaction in Indonesia. Minister Sri Mulyani thanked ADB for being the strongest supporter throughout the development of the ETM in Indonesia which led to a “contagious effect” for other partners to join and support. US Treasury Secretary Janet Yellen, among many dignitaries joining the launch, called on MDBs to do more, and said that ETM as well as the Innovative Finance Facility for Climate in Asia and the Pacific, or IF-CAP, are great examples of creative initiatives that help address pressing needs in pursuit of the Paris climate goals. The event included high-level panels, a press engagement featuring President Asakawa and Minister Sri Mulyani, and multiple MOU signings including between PT SMI and ADB for the Country Platform and for the groundbreaking private sector transaction led by ADB’s Private Sector Operations Depatment (PSOD). President Asakawa, VP Ahmed Saeed, Southeast Asia Deprtment Director General Ramesh Subramaniam, PSOD Deputy Director General Christopher Thieme and others in the ETM team participated in the launch event representing our One ADB push for ETM to accelerate the transition from fossil to clean energy. Read the news release. Visit the ETM page on ADB.org for more information.

At the Indonesia–Malaysia–Thailand Growth Triangle (IMT–GT) Leaders’ Summit in Phnom Penh on 10 November 2022, President Masatsugu Asakawa commended IMT-GT on the achievements of economic cooperation, the adoption of the ADB-supported IMT-GT Implementation Blueprint 2022-2026, and pandemic recovery efforts. He highlighted recommendations of recent ADB studies on IMT-GT special economic zones and economic corridors to help the subregion foster economic recovery and growth. He also touched on ADB initiatives to help IMT-GT in climate change mitigation and adaptation, sustainable energy systems, smart and livable cities, and tourism revival. The summit was chaired by Thailand Prime Minister Prayut Chan-o-cha and attended by Indonesia President Joko Widodo, Malaysia Speaker of the House of Representatives Tan Sri Azhar Azizan Harun, and ASEAN Secretary General Lim Jock Hoi. President Asakawa also met with President Widodo on the sidelines of the IMT-GT Summit. They discussed a range of issues including the uncertainties in the global economy and the impact on Indonesia’s sustainable growth, food security, and energy transition including the Energy Transition Mechanism (ETM).

President Masatsugu Asakawa and Extractive Industries Transparency Initiative (EITI) Chair and former New Zealand Prime Minister Helen Clark, in a meeting on 7 November 2022, explored potential areas of cooperation between the two institutions. They discussed EITI’s interest in promoting beneficial ownership transparency, tackling corruption, and supporting domestic resource mobilization and renewable energy transition in Asian gas, oil, and mineral-producing countries.

President Masatsugu Asakawa on 3 November 2022 met with Scott Morris, a senior fellow at the Center for Global Development. They discussed regional growth prospects in the context of the current economic headwinds—in particular the steep increase in food and energy prices, and tighter monetary policy in developed economies—and underlying structural challenges, including climate change, aging populations, and infrastructure deficits. Mr. Morris applauded ADB’s swift response during the COVID-19 pandemic. President Masa highlighted ADB’s enhanced climate ambition, and also emphasized the importance of enhancing domestic resource mobilization in Asia and the Pacific. Mr. Morris met with the Board members and exchanged views on ADB’s COVID-19 response and possible future pathways. He also met ADB Managing Director General Woochong Um, ADB Strategy and Policy Department Director General Tomoyuki Kimura, and other staff.