Philippines supports nomination of special advisor to Japanese PM as next ADB president

The nomination of Special Advisor to the Japanese Prime Minister and to the Minister of Finance, Masatsugu Asakawa, as the next president of the Asian Development Bank has gained the support of the Philippines.

Philippine Finance Secretary Carlos Dominguez, who sits as ADB governor for the Philippines, cited Asakawa’s experience in global financial affairs, including working with the International Monetary Fund and the Organization for Economic Cooperation and Development.

“[Asakawa’s] experience in international finance, development and taxation would prove to be a valuable asset in helping the ADB continue reinventing itself and pursuing new strategies to help the region achieve inclusive growth amid a global economic slowdown,” Dominguez said.

Japan has nominated Asakawa to replace Takehiko Nakao, who intends to resign as ADB president effective January 16, 2020.

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