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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.

11 May 2021 President Asakawa, ADB Alternate Governor for UK discuss the climate agenda ahead of COP26

President Masatsugu Asakawa and a UK delegation led by the Foreign, Commonwealth and Development Office Minister for Asia and ADB Alternate Governor Nigel Adams met virtually on 11 May 2021. The President conveyed ADB’s strong commitment to the climate agenda and shared the breadth of ADB’s climate actions. Both parties agreed that COP26 in November 2021 will be a pivotal milestone for climate change and to get the global commitment on track to make the goals of the Paris Agreement a reality. Minister Adams expressed his appreciation for the significant efforts ADB has made in responding to COVID-19 and the importance of a green, resilient, and inclusive economic recovery. President Asakawa and Minister Adams emphasized that the economic recovery will depend critically on an effective roll-out of vaccines. 

11 May 2021 President Asakawa meets with Citigroup officials

President Masatsugu Asakawa on 11 May 2021 met with the Citigroup Vice Chairman of Banking, Capital Markets, and Advisory Jay Collins to discuss a wide range of issues including the economic and vaccine outlook, ADB's response to the COVID-19 pandemic, climate change, and ADB-Citi collaboration. The President thanked Citi for being a reliable and consistent long-standing partner of ADB in the capital markets. He noted increasing opportunities for collaboration, particularly in climate change and environmental infrastructure and supply chain financing, in supporting Asia's green, resilient, and inclusive recovery.

6 May 2021 President Asakawa meets with ADB Governors from Nordic countries and the Netherlands

President Masatsugu Asakawa and ADB Governors from Nordic countries and the Netherlands met virtually on 6 May 2021. They discussed the need for ambitious climate action, alignment with the Paris Agreement, and the ADB's new Energy Policy. The Governors also expressed their appreciation for ADB's renewed focus on strengthening domestic resource mobilization and international tax cooperation to support a green, resilient, and inclusive post-COVID-19 recovery in Asia and the Pacific. The delegation and President Asakawa also discussed the private sector's critical role for job creation, poverty alleviation, and economic development. 

6 May 2021 54th Annual Meeting concludes

At the conclusion of the 2021 virtual Annual Meeting on 5 May 2021, President Masatsugu Asakawa addressed the Board of Governors in his remarks “Toward a Lasting and Equitable Recovery: ADB's Leadership and Country Presence during the COVID-19 Crisis”. He highlighted ADB's agile response and assistance to DMCs and the path forward to recovery in Asia and the Pacific. See the news release, photos, and the Annual Meeting website

5 May 2021 Pacific developing member country Governors virtually meet with ADB Management

President Masatsugu Asakawa on 5 May 2021 joined the 31st Pacific DMC Governors and ADB Management meeting. In opening remarks, the President confirmed ADB support to help Pacific countries recover lost ground and come back stronger after the challenges of COVID-19. He outlined three key areas of ADB support to the Pacific to promote a green, resilient, and inclusive recovery: supporting countries to adapt to the impact of climate change; catalyzing investments by the private sector; and providing technical support to help governments identify and implement policy actions to maintain debt sustainability.

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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.