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.
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.
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.
President Asakawa meets with Japan’s Prime Minister, Minister of Finance and ADB Governor
President Masatsugu Asakawa and Japan's Prime Minister, Fumio Kishida, on 12 January 2022 and Minister of Finance and Minister of State for Financial Services and ADB Governor, Shunichi Suzuki, on 11 January discussed Strategy 2030 implementation and ADB's response to COVID-19 in Asia and the Pacific. They agreed that the future focus will need to be on ensuring a green, inclusive, resilient, recovery. This will involve consolidating all efforts to deepen knowledge, innovation and partnership to build ADB as climate bank for the region. President Asakawa appreciated Japan’s strong support to the Energy Transition Mechanism and other ADB initiatives supporting the green, inclusive, and resilient recovery. Prime Minister Kishida and Governor Suzuki thanked ADB for the excellent collaboration in eradicating poverty under Strategy 2030. They also thanked President Asakawa for his strong leadership and acknowledged the work of all ADB staff in challenging times.
ADB salutes long-standing collaboration with AMRO at its 10th anniversary event
President Masatsugu Asakawa on 7 December 2021 congratulated the ASEAN+3 Macroeconomic Research Office (AMRO) on its 10th year anniversary, applauding AMRO for its effectiveness as an independent regional surveillance unit. In his pre-recorded message, President Asakawa highlighted the collaborative efforts of AMRO to maintain macroeconomic fundamentals and financial stability in the ASEAN+3 region even in challenging conditions. In closing, he assured that ADB and AMRO will continue to work together to prevent financial stability risks and mobilize stable sources of long-term finance in the post-COVID-19 economic recovery.
2021 ADBI Annual Conference: Experts spotlight developing Asia’s carbon net-zero pathways
The Intergovernmental Panel on Climate Change’s Jim Skea, in his keynote speech, and President Masatsugu Asakawa, in his opening remarks, stressed the importance of greater evidence-based policy innovation to help finance post-COP26 net-zero carbon emissions targets and mitigate growing climate risks in developing Asia and the Pacific during the opening of the virtual 2021 ADBI Conference on 1 December 2021. Read the news release.
President Asakawa describes his vision at the first High-Level Regional Tax Conference
President Masatsugu Asakawa on 24 November 2021 asserted, in his keynote address at the first High-Level Regional Tax Conference, that we all have a duty to future generations to ensure they are not left with unsustainable debt burdens, that we do not leave societies torn apart by inequality, and a planet ravaged by climate change. He also emphasized that the key to a green, inclusive, and resilient recovery lies with domestic resource mobilization and international tax cooperation. Representing Asia Pacific Tax Hub’s key development partner institutions, IMF’s Fiscal Affairs Department Director Vitor Gaspar, World Bank’s Vice President for Equitable Growth, Finance and Institutions Indermit Gill, and the OECD’s Centre for Tax Policy and Administration Director Pascal Saint-Amans further elaborated on the key components of a viable strategy to realize President Asakawa's vision. Read the news release.
President Asakawa opens first ADB Gender Forum
President Masatsugu Asakawa on 22 November 2021 opened the first ADB Gender Forum The Power to Transform: Gender Equality in Asia and the Pacific. In his remarks, the President emphasized that countries must view gender equality as central to social and economic development, and create a “new and inclusive normal” to remain competitive and resilient. President Asakawa underscored ADB’s commitment to proactively mainstream gender equality across all aspects of ADB operations.
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ADB Approves 2021 Administrative Budget
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... -
$9 Billion ADB Facility to Help Developing Member Countries Access and Distribute COVID-19 Vaccines
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... -
ADB Joins 11 Leading Multilateral Development Banks and IMF in Launching First Joint Report on Financing SDGs
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. -
ADB President Urges CAREC Countries to Boost Regional Cooperation and Embrace Digitalization to Strengthen COVID-19 Recovery
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... -
ADB Provides $16.9 Million Grant to Help Vanuatu Respond to COVID-19
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 Approves $100 Million Grant to Support Afghanistan’s COVID-19 Response
ADB today approved a $100 million grant to help the Government of Afghanistan respond to the coronavirus disease (COVID-19) pandemic. -
ADB Approves $16 Million Grant to Help Marshall Islands Fight COVID-19
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. -
ADB Approves $250 Million Loan to Support PNG’s Response to COVID-19
ADB has approved a $250 million loan to help finance the Government of Papua New Guinea’s response to the coronavirus disease (COVID-19) pandemic. -
ADB President, OECD Secretary General Agree to Deepen Cooperation Toward Robust and Sustainable Recovery
MANILA, PHILIPPINES (25 November 2020) — Asian Development Bank (ADB) President Masatsugu Asakawa and Organisation for Economic Co-operation and Development (OECD) Secretary General José Ángel Gurría today discussed their respective institution’s support for the coronavirus disease (COVID-19) response, and agreed to further strengthen ongoing collaboration on key areas to ensure robust and sustainable recovery from the pandemic such as economic analysis, domestic resource mobilization (DRM), international tax cooperation (ITC), and anticorruption. -
ADB Provides $20 Million to Help Cook Islands Respond to COVID-19
The Asian Development Bank (ADB) has approved a $20 million loan to help the Government of Cook Islands manage the social and economic impacts of the coronavirus disease (COVID-19) pandemic.
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Leading through Global Influence and Strong Country Presence: My Vision for ADB as the Partner of Choice for Asia and the Pacific - Masatsugu Asakawa
Town Hall Address to ADB Staff by Masatsugu Asakawa, President, Asian Development Bank, at ADB Headquarters, Manila, Philippines, 5 February 2020
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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. 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.
President in the News
- ADB to invest $2.0b in BD's edn sector over next three years
- 60 MW solar power generation plant in Cambodia connected to national grid
- PLN makes the first step toward retiring steam power plants, supported by ADB
- ADB predicts slower economic growth than expected in 2023
- Bloomberg Philanthropies, Goldman Sachs backed Fund invests in sustainable transportation in India, Vietnam
- ADB restructuring to streamline work with member-countries
- S. Korea, ADB vow deeper cooperation in health care, climate change
