ADB chief Asakawa to step down, 'Mr. Yen' Kanda likely successor

Japanese Finance Ministry veteran says it is time for new leadership

20240909 Masato Kanda

Masato Kanda, Japan's former vice finance minister for international affairs, is being nominated to take over the presidency of the Asian Development Bank early next year. © Reuters

RAMON ROYANDOYAN and YOHEI HIROSE, Nikkei staff writers

MANILA/TOKYO -- The Asian Development Bank announced on Monday that its president, Masatsugu Asakawa, is planning to step down on Feb. 23, 2025.

The Japanese government is, in the meantime, preparing to nominate Masato Kanda, the former top financial diplomat under Fumio Kishida's government, to succeed Asakawa in the post, Nikkei has learned.

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