The Asian Development Bank (ADB) has announced Takehiko Nakao as its new president.
Nakao succeeds Haruhiko Kuroda, who stepped down from the position in March, and becomes the ADB’s ninth president.
He has previously held several positions within the Japanese ministry of finance, where he worked for around 35 years. He was most recently vice-minister of finance for international affairs.
Commenting on his appointment, Nakao says: ““I am honoured to take on the leadership of the 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.”