Masato Kanda Nominated as ADB President

Masato Kanda, Japan's former vice finance minister for international affairs, is the sole candidate for the presidency of the Asian Development Bank (ADB), following the closure of nominations. The ADB's Board of Governors will vote on Kanda's candidacy starting October 28, with results to be announced on November 28. Kanda, who has a reputation for managing significant currency interventions, was recommended by the Japanese government and aims to address critical issues like climate change and poverty in the Asia Pacific region. Since the ADB's inception in 1966, every president has been Japanese, reflecting Japan's prominent shareholder role alongside the United States. Kanda succeeds Masatsugu Asakawa, who announced his retirement effective February 23, 2025. The election process requires Kanda to secure a majority of votes from the bank's 69 member states and regions.