FINANCE Secretary Carlos G. Dominguez III said he supports Japan’s nominee to head the Asian Development Bank (ADB), adding that the proposed candidate is well-equipped to lead the bank in helping the region achieve inclusive growth.
Japan has nominated Special Advisor to the Prime Minister Masatsugu Asakawa as the next ADB president following his predecessor Takehiko Nakao’s resignation effective next year. Mr. Asakawa, according to Mr. Dominguez, helped design Japan’s policy for fast-tracking major projects backed by Japanese aid.
Mr. Dominguez said Mr. Asakawa, who is also the special advisor to the Minister of Finance, has extensive experience in international finance, development and taxation which will be a “valuable asset” for the bank.
His background will help the bank continue (to reinvent) itself and (pursue) new strategies to help the region achieve inclusive growth amid a global economic slowdown,” Mr. Dominguez said in a stat
Mr. Nakao, who took up his post in April 2013, announced in mid-September his decision to step down effective January.
Minister of State for Financial Services Taro Aso said in his letter to Mr. Dominguez that Mr. Asakawa was the “most qualified candidate” for the post.
“Special Advisor Asakawa helped set the stage for the ‘fast and sure’ approach we are adopting with Japan now in implementing the big-ticket infrastructure projects being funded with Japanese ODA,” Mr. Dominguez said, referring to official development assistance.
“As finance deputy for the G20 meetings held in Osaka, Special Advisor Asakawa was instrumental in crafting the G20 Principles for Quality Infrastructure Investment and the G20 Shared Understanding on the Importance of UHC (Universal Health Care) Financing in Developing Countries,” according to the DoF statement. — Beatrice M. Laforga