President, Asian Development Bank (ADB)
Masatsugu Asakawa is the President of the Asian Development Bank (ADB) and the Chairperson of ADB’s Board of Directors. His tenure began January 2020, when he was chosen by ADB’s Board of Governors.
Most recently, Asakawa served as a Finance Deputy for the G20 meetings under the Japanese Presidency, playing a pivotal role in the success of the G20 Osaka Summit as well as the G20 Finance Ministers and Central Bank Governors meeting in Fukuoka. He previously served as a Special Advisor to Japan’s Prime Minister and Minister of Finance, and as an Executive Assistant to Prime Minister Taro Aso in the immediate aftermath of the Global Financial Crisis. In this capacity, Asakawa played a crucial role in orchestrating a globally coordinated financial package to mitigate the financial crisis, which included a USD 100 billion loan from Japan to the IMF. He also held the position of Vice Minister of Finance for International Affairs, where he took on leading role for the G7 Finance Ministers and Central Bank Governors meeting in Sendai.
Under Asakawa’s leadership, ADB has made significant contributions to the region’s COVID-19 pandemic response and recovery planning, including a $20 billion comprehensive response package and a $9 billion Asia Pacific Vaccine Access Facility. He has also introduced new and innovative financing initiatives, such as an Energy Transition Mechanism, to encourage the region’s low-carbon development and has increased ADB’s 2030 cumulative climate financing ambition to $100 billion.
Asakawa’s educational background includes a BA from the Faculty of Economics, University of Tokyo, and an MPA from the Woodrow Wilson School of Public and International Affairs at Princeton University.