The Board of Governors of the Asian Development Bank (ADB) unanimously elected Masatsugu Asakawa as their new president, just three months after the outgoing president Takehiko Nakao stepped down from his post.

Set to assume office as ADB’s 10th president on 17 January 2020, Asakawa, 61, currently serves as the Special Advisor to Japan’s Prime Minister and Minister of Finance.

“Asakawa’s extensive and diverse experience in international finance and development will serve ADB well in pursuing its vision of a prosperous, inclusive, resilient, and sustainable Asia and the Pacific,” Deputy Prime Minister and Minister of Economy and Finance of the Republic of Korea and Chair of the ADB Board of Governors Hong Nam-Ki was quoted as saying.

“The ADB Board of Governors looks forward to working with Mr. Asakawa,” he added.

In a career spanning close to four decades, Asakawa held a range of senior positions at the Ministry of Finance of Japan, including Vice Minister of Finance for International Affairs, and gained diverse professional experience in development policy, foreign exchange markets, and international tax policy.

He served as Finance Deputy for the 2019 G20 Osaka Summit and the G20 Finance Ministers and Central Bank Governors meeting in Fukuoka, Japan.