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ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

Masatsugu Asakawa

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.

18 September 2020 Governor's Seminar discusses crisis response and inclusive recovery

President Masatsugu Asakawa joined ADB Governors on 18 September 2020 as they discussed how they must get their economies on track while grappling with the constraints of the “new normal.” They explored policies for crisis response, safe reopening, inclusive recovery, and future resilience. Watch the session.

18 September 2020 CNBC Debate: Resetting Asia: Technology, Investment and Sustainability

A high-level CNBC Debate led by President Masatsugu Asakawa was held on 18 September 2020. The President emphasized the urgency of closing the digital divide, as well as ADB’s support for highly scalable technology businesses through ADB Ventures. See photos on Flickr.

17 September 2020 Collaborating toward financially sustainable and inclusive UHC in Asia and the Pacific

President Masatsugu Asakawa participated in the Joint Ministers of Finance and Health Symposium on Universal Health Coverage in Asia and the Pacific: COVID-19 and Beyond, which was co-hosted by ADB, the Government of Japan, and the World Health Organization in conjunction with the 53rd Annual Meeting. In opening remarks, President Asakawa affirmed ADB’s support for universal health coverage as a foundation of strong health systems. Watch the session and the video. Read the news release.

17 September 2020 ADB calls for strengthening domestic resource mobilization and international tax cooperation

President Masatsugu Asakawa announced at a webinar on 17 September 2020 during the 53rd Annual Meeting that ADB is establishing a regional hub to strengthen cooperation on tax policy and tax administration across economies in Asia and the Pacific and in coordination with other development partners. Read the President's speech, and see news release.

16 September 2020 ADF 13 replenishment concludes

The Asian Development Fund (ADF) 13 replenishment negotiations were completed on 16 September 2020, on the sidelines of the virtual 53rd ADB Annual Meeting. Donors have agreed to a replenishment of more than $4 billion for the ADF 13 and Technical Assistance Special Fund 7, for the 4-years from 2021 to 2024. The total size of the replenishment represents a 7% increase in comparison to the previous replenishment, which covered the 2017-2020 period. In opening remarks, President Masatsugu Asakawa highlighted that both funds will be critical in responding to the COVID-19 crisis and building an inclusive and sustainable recovery in the poorest and most vulnerable countries. Read the news release.

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. In August 2021, he was reelected for a 5-year term starting on 24 November 2021.

Under Mr. Asakawa’s leadership, ADB made significant contributions to the region’s COVID-19 pandemic response and recovery planning with a $20 billion comprehensive response package and $9 billion Asia Pacific Vaccine Access Facility. He also played a key role in rolling out a series of new and innovative financing initiatives—including an Energy Transition Mechanism — to spur the region’s low-carbon development and elevated ADB’s 2030 cumulative climate financing ambition to $100 billion as ADB continues to focus on the battle against climate change.

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.