Masatsugu Asakawa has been unanimously elected as the new President of the Asian Development Bank (ADB) by its Board of Governors, reports BSS.

Asakawa, 61, currently Special Advisor to Japan’s Prime Minister and Minister of Finance, will assume office as ADB’s 10th President on Jan 17, 2020, said an ADB media release.

He will succeed Takehiko Nakao, who will leave office on Jan 16, 2020. Asakawa will finish the unexpired term of President Nakao, which ends on Nov 23, 2021.

“Mr 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,” said Chair of the ADB Board of Governors Hong Nam-Ki.

In a career spanning close to four decades, Asakawa has 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, the release added.

He served as a Visiting Professor at the University of Tokyo from 2012 to 2015 and at Saitama University from 2006 to 2009.

He obtained his Bachelor of Arts from the University of Tokyo in 1981 and MPA from Princeton University in 1985.