Asian Development Bank President Masato Kanda secured unanimous support from the bank’s Board of Governors for a second five-year term beginning November 24, according to the Manila-based multilateral lender. Kanda, who originally assumed office on February 24, 2025, to finish his predecessor’s term, heads the institution as it provided a record $44 billion in regional support amid intensifying global economic shocks.
Unanimous Board Support Secures Kanda’s Leadership
The ADB Board of Governors backed Kanda’s re-election in a unanimous vote. According to the multilateral lender, his new five-year mandate officially starts on November 24. Kanda initially entered the role after winning election on November 27, 2024, stepping in to complete the remaining tenure of former president Masatsugu Asakawa.
Asakawa announced his resignation on September 9, 2024, stepping down approximately nine months prior to his scheduled term end to clear a path for new leadership. Historically, every president of the multilateral institution has been a Japanese national, a tradition maintained through Kanda’s tenure.
Responding to Overlapping Regional Crises
According to Kanda’s official statements, the region faces severe economic strains and geopolitical pressures. “New shocks are striking Asia and the Pacific, even before economies have recovered from the last, and the international order is under its greatest strain in generations,” Kanda noted following the election announcement. He emphasized that the bank must serve as an economic anchor without standing still, mobilizing resources rapidly to protect current populations and future generations.
Did you know? Prior to leading the ADB, Masato Kanda served as a special adviser to Japan’s prime minister and finance minister from 2024 to 2025, and as Japan’s vice-minister of finance for international affairs from 2021 to 2024, representing the country at G7 and G20 summits.
Record Financing and Charter Amendments
According to ADB data, the institution delivered a record $44 billion in support. That total breaks down into more than $29 billion drawn directly from the bank’s own resources alongside nearly $15 billion secured through cofinancing.
This financial expansion stems from a historic amendment to the ADB Charter. That structural change enabled a 50-percent increase in overall annual financing capacity, allowing annual support sourced directly from the bank to surpass $36 billion, according to institutional reports.
Frequently Asked Questions
When does Masato Kanda’s second term begin?
According to the ADB, Kanda’s second five-year term officially begins on November 24.
How much financial support did the ADB provide under Kanda?
The bank provided a record $44 billion in support, which included over $29 billion from its own resources and nearly $15 billion in cofinancing, according to the lender’s official figures.
Who was Kanda’s predecessor at the ADB?
Kanda succeeded Masatsugu Asakawa, who stepped down on February 23, 2025, before his term concluded.
What are your thoughts on the ADB’s economic strategy for the region? Join the discussion below or subscribe to our newsletter for regular updates on international financial institutions.
Related reading