New ADB President 'Again' Japanese... 11 Consecutive Since Establishment

The Asian Development Bank (ADB) has elected Masato Kanda, former Financial Bureau Director of Japan's Ministry of Finance, as its next president, according to reports by Kyodo News and Nihon Keizai Shimbun (Nikkei) on the 28th.

Former Director Kanda is a career finance bureaucrat who graduated from the University of Tokyo and began his public service career in 1987 at the Ministry of Finance (formerly the Ministry of the Treasury). For the past three years, he served as the Financial Bureau Director overseeing foreign exchange policy at the Ministry of Finance.

Reuters Yonhap News

Kanda was the sole candidate in the presidential election voted on by ADB member countries. The new president's term will run from February 24 next year to November 23, 2026.

With this presidential appointment, ADB will set a record of having 11 consecutive Japanese nationals hold the presidency since its establishment. The Secretary-General position is held by the Republic of Korea. The Secretary-General is a top executive role within ADB, attending the six-member management meeting alongside the president and vice presidents.

Founded in 1966 under Japanese leadership to promote development and cooperation among developing countries in the Asia-Pacific region, ADB is currently an international financial institution headquartered in Manila, Philippines.

Japan holds the largest shareholding at 15.6%, tied with the United States, followed by China (6.4%), India (6.3%), Australia (5.8%), Indonesia (5.4%), Canada (5.2%), and Korea (5.0%).

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