ADB president announces resignation

A picture shows the logo of the Asian Development Bank (ADB) displayed outside its headquarters in Manila on September 2, 2010. Photo by TED ALJIBE / AFP

Asian Development Bank (ADB) President Masatsugu Asakawa announced on Monday his intention to step down from his position, effective Feb. 23, 2025.

“It has been a profound honor to serve as President of ADB,” Asakawa was quoted as saying by the Manila-based multilateral lender.

“I am deeply grateful for the support of our Board, member governments, and the dedication of our Staff in delivering on ADB’s mission to promote inclusive, resilient, and sustainable growth. After careful reflection, I believe the time is right for new leadership to bring fresh perspectives and renewed energy to this essential work,” he added.

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Asakawa has served as ADB President since January 2020, succeeding Takehiko Nakao.

Over the course of his tenure, Asakawa has led the institution through unprecedented global challenges and significant milestones that have strengthened ADB’s role in fostering development and resilience across Asia and the Pacific.