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 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.
The Philippines today became the first recipient of financing support under ADB's Asia Pacific Vaccine Access Facility with approval of a $400 million loan that will help the country purchase safe and effective vaccines against COVID-19.
The Asian Development Bank has allocated $25 million to help the Philippine government purchase vaccines for the coronavirus disease (COVID-19) in 2021.
Economies of Asia and the Pacific must put water security at the top of their agenda to recover from the fallout from the COVID-19 pandemic and adapt to climate change, according to a new flagship report released by ADB.
ADB today approved a 2021 administrative budget (internal administrative expense budget) of $771.2 million. This represents a 4.7% increase over the 2020 administrative budget, consisting of a price increase of 4.2% and a volume growth...
ADB has launched a $9 billion vaccine initiative—the Asia Pacific Vaccine Access Facility (APVAX)—offering rapid and equitable support to its developing member countries as they procure and deliver effective and safe...
The Asian Development Bank joined 11 multilateral development banks and the International Monetary Fund today in launching a first-ever joint report on financing the Sustainable Development Goals.
More rapid digitalization and leveraging the private sector can support the recovery from the coronavirus disease (COVID-19) pandemic, accelerate regional cooperation, drive innovation, and help countries adapt to new and evolving...
The Asian Development Bank has approved a $16.9 million grant to help the Government of Vanuatu respond to the coronavirus disease (COVID-19) pandemic.
ADB today approved a $100 million grant to help the Government of Afghanistan respond to the coronavirus disease (COVID-19) pandemic.
ADB has approved a $16 million grant to help the Government of Marshall Islands manage the social and economic impacts of the coronavirus disease (COVID-19) pandemic.
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.