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 highlights ADB's innovative financing for energy transition at CNBC Debate
President Masatsugu Asakawa, International Energy Agency Executive Director Fatih Birol, Philippine Energy Regulatory Commission Chair Monalisa Dimalanta, and Avaada Group Vice Chairperson Sindoor Mittal joined the CNBC Debate on 29 September 2022. Panelists discussed approaches to enabling and financing a successful transition to low-carbon power, including the Energy Transition Mechanism, while ensuring the shift is inclusive and just for all. Watch the debate.
President Asakawa meets with CSOs
President Masatugu Asakawa in the morning of 27 September 2022 met virtually with representatives of civil society organizations, including nongovernment organizations as part of the Annual Meetings civil society program. The meeting discussed ADB’s investments in climate change, social inclusion, and policies such as safeguard and energy policy, including ways to further enhance ADB’s cooperation with CSOs. Watch the session recording.
President's 2022 Annual Meeting kick-off conversation addresses current crises, ADB's way forward
President Masatsugu Asakawa on 26 September 2022 opened the 55th ADB Annual Meeting with an engaging conversation with international journalist, Zeinab Badawi. The President discussed ADB’s COVID-19 response and shared his perspectives on the Asian economy, the impact of the Russian invasion of Ukraine, and the food and energy crises. He also outlined his ideas for change for Asia and the Pacific region – from increasing our climate financing to the bank’s innovative Energy Transition Mechanism to domestic resource mobilization and international tax cooperation, and regional cooperation. Watch the session recording.
President Asakawa meets Japan Prime Minister, ministers of finance and economic revitalization
President Masatsugu Asakawa and Japan Prime Minister Fumio Kishida on 4 August 2022, and Minister of Finance and Minister of State for Financial Services and ADB Governor Shunichi Suzuki on 2 August discussed the economic outlook and challenges of Asia and the Pacific region. They agreed that urgent climate action is necessary for the region to move toward a green, inclusive, and resilient recovery, and the role of innovative climate financing such as the Energy Transition Mechanism in making this happen. On 28 July, President Asakawa talked with Daishiro Yamagiwa, Minister of Economic Revitalization, about the ever-present threat of climate change to future growth, and ADB’s role as the region’s climate bank. In all the meetings, President Asakawa expressed deep appreciation for Japan’s generous support to ADB, particularly the initiatives that support a green, inclusive, and resilient recovery, and the development of Asia and the Pacific. PM Kishida, Governor Suzuki, and Minister Yamagiwa thanked ADB under President Asakawa for its leadership in tackling the region’s pressing challenges.
President Asakawa speaks on developing Asia’s economic outlook and ADB's climate actions
President Masatsugu Asakawa on 29 July 2022 spoke at a hybrid press briefing hosted by the Japan National Press Club in Tokyo. The President gave an overview of the economic outlook for developing Asia, elaborating on the impacts of COVID-19, Russian invasion of Ukraine, and the US monetary tightening. He explained ADB's response to the pandemic and discussed its priorities in the post-pandemic world, in particular highlighting efforts as Asia and the Pacific's Climate Bank to combat climate change, including ADB’s new energy policy and Energy Transition Mechanism. About 70 Tokyo-based journalists and club members participated in the press briefing.
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ADB President Reaffirms Support for COVID-19 Response and Economic Recovery at BIMP–EAGA Leaders’ Summit
ADB President Masatsugu Asakawa today reaffirmed ADB’s support for a rapid economic recovery, infrastructure development, and regional cooperation at the 14th Brunei Darussalam–Indonesia–Malaysia–Philippines East... -
$25 Million ADB Project to Help Procure COVID-19 Vaccines for Kyrgyz Republic
The Asian Development Bank has approved a $25 million project to help the Government of the Kyrgyz Republic procure and deploy COVID-19 vaccines and strengthen the country’s capacity to implement its vaccination program. -
New ADB Energy Policy to Support Energy Access and Low-Carbon Transition in Asia and Pacific
The Asian Development Bank has approved a new energy policy to support universal access to reliable and affordable energy services, while promoting the low-carbon transition in Asia and the Pacific. -
ADB Launches Regional Flyway Initiative to Preserve Priority Wetlands
The Asian Development Bank today launched the Regional Flyway Initiative, a program that aims to preserve wetlands across the region, which are critical for the livelihoods of hundreds of millions of people as well as the annual... -
Act Urgently to Preserve Biodiversity for Sustainable Future — ADB President
The world must act urgently to preserve ecosystems and biodiversity for the sake of a sustainable future and prosperity, ADB President Masatsugu Asakawa said at the opening of a global event on biodiversity here today. -
ADB Raises 2019–2030 Climate Finance Ambition to $100 Billion
The Asian Development Bank has announced it is elevating its ambition to deliver climate financing to its developing member countries to $100 billion from 2019–2030. -
ADB President, Kazakhstan President Discuss COVID-19 Assistance, Future Support
Asian Development Bank (ADB) President Masatsugu Asakawa and Kazakhstan President Kassym-Jomart Tokayev today discussed ADB’s support for Kazakhstan’s ongoing coronavirus disease (COVID-19) pandemic response... -
$15 Million ADB Loan to Help Georgia Procure COVID-19 Vaccines
The Asian Development Bank today approved a $15 million loan to help the Government of Georgia procure and deploy coronavirus disease (COVID-19) vaccines and strengthen the country’s capacity to implement its vaccine program. -
GMS Leaders Endorse 10-Year Strategy to Promote Sustainable, Inclusive Development Amid COVID-19
Leaders from the six member countries of the Greater Mekong Subregion have endorsed a new 10-year strategy to promote sustainable, inclusive development and strengthen economic integration to combat threats such as the coronavirus disease... -
Masatsugu Asakawa Reelected for Second Term as ADB President
Asian Development Bank (ADB) President Masatsugu Asakawa received unanimous support for a second term as ADB President from the members of ADB’s Board of Governors voting in the recently concluded election.
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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 -
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 -
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 -
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 -
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 -
A Decade of Action: Enabling the SDGs - Masatsugu Asakawa
Remarks by Masatsugu Asakawa, President, Asian Development Bank, at the The SDG Dialogues - A Decade of Action: Enabling the SDGs, 7 April 2021 -
Increasing Access to Finance and Improving Response to Climate Impacts - Masatsugu Asakawa
Speech by Masatsugu Asakawa, President, Asian Development Bank, at the Climate and Development Ministerial Session on Increasing Access to Finance and Improving Response to Climate Impacts, 31 March 2021 -
Supporting a Strong, Inclusive, and Sustainable Recovery in ASEAN - Masatsugu Asakawa
Speech by Masatsugu Asakawa, ADB President, at the ASEAN Finance Ministers’ Meeting (AFMM)’s Special Session with ASEAN Finance Ministers, Central Bank Governors, and Heads of International Financial Organizations, 30 March 2021 -
Innovation through Collaboration: Planning for Inclusive Post-COVID-19 Recovery - Masatsugu Asakawa
Speech by Masatsugu Asakawa, President, Asian Development Bank, at the Southeast Asia Development Symposium, 17 March 2021
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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
