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 69 members—49 from the region.
ORGANIZATION
ACCOUNTABILITY
ADB supports projects in developing member countries that create economic and development impact, delivered through both public and private sector operations, advisory services, and knowledge support.
How We're Organized
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.
President Asakawa meets with Georgia Minister of Finance and Chair of the Board of Governors KhutsishviliPresident Masatsugu Asakawa on 20 March met with Georgia's Minister of Finance and ADB Governor and Chair of the Board of Governors Lasha Khutsishvili to discuss development priorities and the strong partnership between ADB and the country. Minister Khutsishvili and his delegation also met with ADB Executive Director Rachel Thompson, held a Board colloquium on Georgia's economic development, and briefed the Board on the arrangements for the 57th ADB Annual Meeting to be held in Tbilisi from 2 to 5 May.
President Asakawa meets Viet Nam Prime Minister, attends 30-year partnership celebration in Ha NoiDuring his first mission to Viet Nam as ADB President from 12 to 14 March, President Masatsugu Asakawa met with Viet Nam Prime Minister Pham Minh Chinh, National Assembly Deputy Chairman Nguyen Duc Hai, and other senior government officials including Governor of the State Bank of Viet Nam and ADB Governor Nguyen Thi Hong, Minister of Planning and Investment Nguyen Chi Dung, and Minister of Finance Ho Duc Phoc to discuss priorities and ADB’s ongoing and future support to the country, including in climate change, the Viet Nam Just Energy Transition Partnership, and private sector development.
President Asakawa and Prime Minister Chinh on 13 March led the celebration of 30 years of Viet Nam - ADB partnership. The President also met with Viet Nam Resident Mission staff, visited the Selex Smart Electric Vehicles Joint Stock Company, which is supported by ADB Ventures, and the Ha Noi College of Electro Mechanics Main campus funded under the Skills and Knowledge for Inclusive Economic Growth Project, which aims to upgrade the teaching and learning environments of national technical and vocational training institutes. A roundtable interaction of President Asakawa with senior representatives of the private sector was also held. Read the news release.
ADB celebrates International Women’s DayPresident Masatsugu Asakawa opened ADB’s International Women’s Day celebration on 7 March, highlighting ADB’s commitment to supporting developing member countries towards a gender-inclusive green economy and caring society. In her keynote speech, Her Excellency President Hilda Heine of the Republic of Marshall Islands shared her insights and experiences as a woman leader, emphasizing the need to invest in women, especially in the Pacific region, lead on climate action, and advance gender equality.
8th UN Secretary-General visits ADB, discusses SDGs and climate actionDuring his visit on 27 February at ADB headquarters, former UN Secretary-General Ban Ki-moon commended ADB for its contributions to achieve the Sustainable Development Goals (SDGs) while simultaneously tackling the climate crisis. In his talk on revitalizing SDGs amid the climate crisis in the first Eminent Speakers’ Forum of 2024, Secretary-General Ban called for integrated and transformative actions from stakeholders. He urged ADB to continue aligning operations with the Paris Agreement and to support a Just Transition to a low-carbon and resilient future. Watch the interview with Mr. Ban.
Australia's Treasurer, President Asakawa underscore partnershipPresident Masatsugu Asakawa and the Treasurer of the Commonwealth of Australia Parliament House and ADB Governor Jim Chalmers MP, in a conference call on 11 December, underscored the importance of the partnership between the two institutions. The two leaders, recognizing the shared ambitions for the Pacific and the broader Asia region, emphasized further strengthening collaboration. President Asakawa highlighted ADB’s evolution agenda. He drew on examples such as the success of the Capital Adequacy Framework review, the realignment of expertise through the new operating model, and the scaling up of climate finance through platforms such as IF-CAP. Executive Director Rachel Thompson joined the call.
ADB Plans $14 Billion to Ease Food Crisis, Promote Long-Term Food Security in Asia and the Pacific
ADB announced plans to provide at least $14 billion over 2022–2025 in a comprehensive program of support to ease a worsening food crisis in Asia and the Pacific, and improve long-term food security.
Historic First-Ever International Finance Facility for Education Launched at United Nations Transforming Education Summit
World leaders backed the establishment of the first-ever innovative guarantee fund specifically designed to invest in the education of the world’s poorest children and youth—the IFFEd.
ADB, Singapore Agree to Promote Investment and Innovation Across Asia and the Pacific
ADB President Masatsugu Asakawa and Singapore Deputy Prime Minister and Finance Minister Lawrence Wong today signed a Memorandum of Understanding to promote greater investment in the Asia and Pacific region and to recognize...
ADB Retains 'Very Good' Rating in Aid Transparency Index of Development Organizations
ADB retained its spot in the top “very good” category in the 2022 Aid Transparency Index, an independent measurement of aid transparency launched on 13 July.
$134 Million UK Fund to Help Catalyze Green Financing in Southeast Asia
ADB and the UK have signed a memorandum of understanding to develop a £107 million trust fund to support efforts by ASEAN countries to scale up green financing and shift to low-emission, climate-resilient development.
Overhaul Energy Sector to Reach Net-Zero Future, Says ADB President
Asia and the Pacific must overhaul its energy sector to transition to a net-zero future that is vital in the fight against climate change, ADB President Masatsugu Asakawa said at the Asia Clean Energy Forum.
ADB Board of Governors Convenes First Stage of 55th Annual Meeting
The Board of Governors of the Asian Development Bank has approved ADB’s 2021 financial statements and net income allocation at the first stage of the bank’s 55th Annual Meeting.
ADB Operations Reach $22.8 Billion in 2021 to Boost Pandemic Response, Promote Green Recovery
ADB committed $22.8 billion from its own resources in 2021 to help Asia and the Pacific tackle the immediate effects of the COVID-19 pandemic and promote a green recovery.
Private Sector Development Remains Critical to Uzbekistan Reforms — ADB President
Private sector development remains critical to ongoing reforms in Uzbekistan and the Asian Development Bank will continue to help the country strengthen its private sector as it pursues inclusive and sustainable growth.
ADB President Reiterates Need for “Just, Inclusive” Energy Transition at G20 Event
ADB President Masatsugu Asakawa reiterated the importance of a just and inclusive transition to a low-carbon future and stressed the need for urgent collective action against climate change at a G20 event.
1st Climate Vulnerables Finance Summit and V20 Ministerial Dialogue VII - Masatsugu Asakawa
Remarks by Masatsugu Asakawa, President, Asian Development Bank, at the 1st Climate Vulnerables Finance Summit and V20 Ministerial Dialogue VII, 8 July 2021
Asian and Global Policy Issues - Masatsugu Asakawa
Opening remarks by Masatsugu Asakawa, President, Asian Development Bank, at the International Economic Association World Congress 2021, 2 July 2021
Asia Clean Energy Forum 2021 - Masatsugu Asakawa
Opening remarks by Masatsugu Asakawa, President, Asian Development Bank, at the Asia Clean Energy Forum 2021, 15 June 2021
Meeting of Governors of Pacific Developing Member Countries with ADB Management 2021 - Masatsugu Asakawa
Opening speech by Masatsugu Asakawa, President, Asian Development Bank, at the Meeting of Governors of Pacific Developing Member Countries with ADB Management at the 54th Annual Meeting, 5 May 2021
Toward a Lasting and Equitable Recovery: ADB’s Leadership and Country Presence during the COVID-19 Crisis - Masatsugu Asakawa
Address by Masatsugu Asakawa, President, Asian Development Bank, to the Board of Governors Business Session, at the 54th Annual Meeting, 5 May 2021
Raising the Bar on Climate Ambition: Road to COP26 - Masatsugu Asakawa
Remarks by Masatsugu Asakawa, President, Asian Development Bank, at the 54th Annual Meeting, 4 May 2021
Meeting Between Civil Society Organizations and ADB Management - Masatsugu Asakawa
Opening remarks by Masatsugu Asakawa, President, Asian Development Bank, at the Meeting Between Civil Society Organizations and ADB Management, 54th ADB Annual Meeting of the Board of Governors, 3 May 2021
The Launch of the Asia Pacific Tax Hub - Masatsugu Asakawa
Presentation and closing remarks by Masatsugu Asakawa, President, Asian Development Bank, at the launch of the Asia Pacific Tax Hub at the 54th Annual Meeting, 3 May 202
Ensuring Sustainable and Resilient Recovery and Growth in ASEAN+3 - Masatsugu Asakawa
President’s intervention by Masatsugu Asakawa, President, Asian Development Bank, at the ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM+3), 3 May 2021
2021 Asian Development Fund 13 Donors’ Consultation Meeting - Masatsugu Asakawa
Opening remarks by Masatsugu Asakawa, President, Asian Development Bank, at the 2021 Asian Development Fund 13 Donors’ Consultation Meeting, 28 April 2021
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.
Opening of ADB Presidential Election
The Asian Development Bank’s (ADB) Board of Governors elects the bank’s President. In electing a President, Article 34 of the ADB Charter requires a majority of the total number of Governors, which must represent a majority of the total voting power of ADB members.
The election of ADB’s President has two stages: nomination and election. The Chair of the Board of Governors approves the schedule of the Presidential election procedure, and the Board of Directors endorses the conduct of the election in accordance with Section 3 of the By-Laws.
For the 2024 Presidential Election, ADB Governors were invited to submit nominations from 24 September to 23 October. The election, using an electronic voting system, will follow from 28 October to 27 November. The outcome of the election will be announced after the votes have been recorded by the Board of Directors.
Schedule of the 2024 Election of ADB President
| The Board of Directors approves the conduct of the election through the electronic voting system | 20 September 2024 |
| Governors submit nominations for the Presidential candidates | 24 September-23 October 2024 |
| Governors vote on the candidates via electronic voting system | 28 October-27 November 2024 |
| ADB announces the outcome of the election | 28 November 2024 |
| Start of the elected President’s new term | To be determined |
President in the News
- Global leaders, celebrities worldwide applaud India’s sanitation revolution
- ADB President congratulates President Anura Kumara Dissanayake
- ADB president visits Bhutan, strengthens commitment for Bhutan’s development
- President for increased ADB support to mitigate climate change impacts
- ADB President Asakawa lauds Pakistan’s economic reform agenda, reaffirms support
- Finance minister hosts ADB President in Islamabad
- Philippines, ADB unveil 6-year strategy for inclusive, sustainable growth
- ADB prexy Asakawa cuts short 2nd term, exits in February
- ADB to devote half its lending to climate finance by 2030
- ADB president to join world leaders at COP29 in Baku
- ADB finalizing $500-M PHL climate financing package
- Finance for the net-zero transition must maximize and share benefits equitably
- Can innovative financial instruments help Asia’s green transition?
- Korea bolsters foreign aid efforts to join world's top 10 development donors
