The Asian Development Bank says a former top Japanese currency official was the sole candidate in the election for its next president.
The ADB closed the nomination period for the bank’s leadership on Wednesday. The current president, Asakawa Masatsugu, will retire in February.
The ADB says only Kanda Masato, who was recommended by the Japanese government, entered the race by the deadline.
Kanda served as Vice Minister of Finance for International Affairs for three years until July. He was behind the recent massive market interventions to curb the yen’s historic depreciation. He currently serves as Special Advisor to the Cabinet in charge of finance and the international economy.
In a statement, Kanda pledged his steadfast commitment to bringing sustainable and inclusive growth to the Asia Pacific region. He said climate change and poverty must be urgently addressed, among other challenges.
The ADB Governors of member countries and regions will next vote on Kanda’s candidacy. The results will be announced on November 28.
The ADB was founded in 1966 to promote infrastructure development and poverty reduction in Asia. It has had 10 presidents so far, all of them Japanese.