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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.

2 March 2020 President Asakawa meets local communities in Indonesia

President Masatsugu Asakawa visited ADB-supported slum upgrading and green infrastructure pilot projects in Makassar city, South Sulawesi, Indonesia on 2 March 2020. He interacted with project beneficiaries to learn how the projects have impacted their lives. President Asakawa also met with the Governor of South Sulawesi Nurdin Abdullah, Makassar Mayor Iqbal Suhaeb and other government and representatives from the business community to discuss ongoing and future collaboration in South Sulawesi. Download photos from Flickr

27 February 2020 President Asakawa meets Indonesian Ambassador to the Philippines

President Masatsugu Asakawa met with Indonesian Ambassador to the Philippines Sinyo Harry Sarundajang on 26 February 2020 at the ADB headquarters. President Asakawa and Mr. Sarundajang discussed the development challenges in the country, Indonesian President Widodo's key priorities, and opportunities for expanding ADB engagement in the context of the proposed country partnership strategy 2020-2024. They also talked about the importance of regional cooperation and integration for Indonesia and within the Brunei-Indonesia-Malaysia-Philippines East ASEAN Growth Area. Download photo from Flickr

24 February 2020 ADB President meets Philippine President Duterte, vows support

President Masatsugu Asakawa met on 24 February 2020 with Philippine President Rodrigo Roa Duterte and pledged full support for the country’s proactive development agenda. This was the first courtesy visit by Mr. Asakawa to the Philippine President. He thanked Mr. Duterte for the Philippine government’s first-ever contribution to the Asian Development Fund, which provides grants to ADB’s lower-income developing member countries in Asia and the Pacific to reduce poverty and improve people’s quality of life. Read news release and download photo from Flickr

11 February 2020 President Asakawa opens second ADF 13 Replenishment Meeting

In his opening remarks at the second Asian Development Fund (ADF) 13 Replenishment Meeting, President Masatsugu Asakawa reaffirmed ADB's commitment toward ensuring a sustainable future for the poorest and most vulnerable in Asia and the Pacific. Discussions at the meeting on 11-12 February 2020 at the ADB headquarters focused on areas to be given priority support under ADF 13, and the allocation and financing framework. Download photo from Flickr

10 February 2020 President Asakawa meets with Afghanistan's finance minister

President Masatsugu Asakawa and Mohammad Humayon Qayoumi, Afghanistan's Finance Minister and ADB Governor, met on 10 February 2020 at the ADB headquarters. The Finance Minister was at the ADB headquarters to represent the Government of Afghanistan for the Asian Development Fund (ADF) 13 Replenishment Meeting. President Asakawa and Mr. Qayoumi discussed ADB’s operations and improving project implementation in Afghanistan. President Asakawa reaffirmed ADB’s continued support for Afghanistan’s infrastructure development and reform priorities. Mr. Qayoumi commended ADB for its contributions to the country's development. Download photo from Flickr





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.