Japan's Asakawa to Become ADB President in January

Economy

Singapore, Dec. 2 (Jiji Press)--The Asian Development Bank said Monday Japan's former top currency diplomat Masatsugu Asakawa has been elected president of the ADB.

The 68 member economies of the Manila-based international lending body voted unanimously for Asakawa, who had been vice finance minister for international affairs until July this year.

He will on Jan. 17 next year become the 10th president of the ADB, whose top post has been taken up by Japanese finance and monetary officials since its establishment in 1966.

The ADB held the presidential election, which was actually a vote of confidence due to the absence of other candidates, after incumbent President Takehiko Nakao expressed intention to resign on Jan. 16 before his current tenure expires on Nov. 23, 2021.

Asakawa will serve for Nakao's remaining term.

[Copyright The Jiji Press, Ltd.]

Jiji Press