Japanese ex-vice minister new ADB president

Japanese ex-vice minister new ADB president

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Japan’s former vice-finance minister Takehiko Nakao has assumed the presidency of the Asian Development Bank, vowing to continue its anti-poverty mission and sustain Asia-Pacific’s growth.The ADB said Nakao assumed the presidency of the Manila-based regional development lender on Sunday, succeeding Haruhiko Kuroda, who stepped down in March.
Japan, the ADB’s biggest donor, nominated Nakao last month to lead the bank.
Kuroda’s departure had raised speculation that China might seek a chance to lead the ADB.
Nakao has held senior posts in Japan’s Ministry of Finance, which he joined in 1978.
He was vice-minister of finance for international affairs prior to his ADB appointment.
He took up economics at the University of Tokyo and received a Master’s degree in Business Administration from the University of California at
Berkeley, reports The Straits Times. banglanews2.com

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