ADB president accepts Bank of Japan call

ADB president accepts Bank of Japan call

Asian Development Bank (ADB) President Haruhiko Kuroda will leave his post on March 18 to take on the job as governor of the Bank of Japan, ADB announced on February 28.

His move follows a decision by  the Cabinet of new Japanese Prime Minister Shinzo Abe. An election of a successor to complete Kuroda’s term will be held by the ADB Board of Governors, the ADB said.

Kuroda’s successor will most likely be Takehiko Nakao (pictured), currently Japan’s Vice Finance Minister for International Affairs.

Japan has held the presidency of the Manila-based ADB since the institution was founded in 1966 and is tied with the US as having the largest voting power at the development bank. The US has monopolised the leadership of the World Bank, while Europeans historically have chosen the head of the International Monetary Fund.

Nakao, 56, who joined the Japanese finance ministry in 1978, has an MBA from the University of California, Berkeley.

 



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Asian Development Bank (ADB) President Haruhiko Kuroda will leave his post on March 18 to take on the job as governor of the Bank of Japan, ADB announced on February 28. His move follows a decision by  the Cabinet of new Japanese Prime Minister Shinzo Abe. An election of a successor to complete Kuroda’s term will be held by the ADB Board of Governors, the ADB said. Kuroda's successor will most likely be Takehiko Nakao (pictured), currently Japan's Vice Finance Minister for International Affairs. Japan has held the presidency of the Manila-based ADB since the institution was founded in 1966...

ADB president accepts Bank of Japan call

Asian Development Bank (ADB) President Haruhiko Kuroda will leave his post on March 18 to take on the job as governor of the Bank of Japan, ADB announced on February 28.

His move follows a decision by  the Cabinet of new Japanese Prime Minister Shinzo Abe. An election of a successor to complete Kuroda’s term will be held by the ADB Board of Governors, the ADB said.

Kuroda’s successor will most likely be Takehiko Nakao (pictured), currently Japan’s Vice Finance Minister for International Affairs.

Japan has held the presidency of the Manila-based ADB since the institution was founded in 1966 and is tied with the US as having the largest voting power at the development bank. The US has monopolised the leadership of the World Bank, while Europeans historically have chosen the head of the International Monetary Fund.

Nakao, 56, who joined the Japanese finance ministry in 1978, has an MBA from the University of California, Berkeley.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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