Former Japanese Dy minister is new ADB President

Former Japanese deputy minister Takehiko Nakao today assumed the post of President of the Asian Development Bank (ADB).

“I am honored to take on the leadership of ADB at a challenging and exciting time. I look forward to working with shareholders and all of our development partners to continue our critical mission of fighting poverty and sustaining growth in the Asia-Pacific region,” Nakao said.
    
Mr. Nakao succeeds Haruhiko Kuroda, who stepped down in March to become Bank of Japan Governor.
    
Mr. Nakao held several senior positions in the Ministry of Finance of Japan, which he joined in 1978. Prior to his appointment at ADB, Mr. Nakao was Vice Minister of Finance for International Affairs.

ADB will hold its annual general meeting in India from May two to five.