ADB chief candidate Kanda promises to draw more private capital

Japan's ex-currency diplomat sees private sector as key to meeting Asia's funding needs

20241008N ADB Kanda

Masato Kanda, previously a Japanese vice finance minister, is a candidate to serve as the next president of the Asian Development Bank. (Photo by Yutaka Miyaguchi)

YOHEI HIROSE, Nikkei staff writer

TOKYO -- The Asian Development Bank will seek to "attract more private capital" and focus on "countries' fiscal strength to improve market functions" under his leadership, Masato Kanda, a candidate to serve as the lender's next president, told Nikkei in a recent interview.

Kanda, who was until recently Japan's top currency diplomat and was nicknamed "Mr. Yen," emphasized the importance of the Asia-Pacific region as the "engine of the global economy," generating roughly 60% of its growth.

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