Asian Development Bank | Familypedia | Fandom At present, Asian Development Bank has 68 members, 49 are from within Asia and the Pacific and 19 are from outside. Masatsugu Asakawa ( , Asakawa Masatsugu, born 25 January 1958), a Japanese civil servant, is the president of the Asian Development Bank (ADB). He was elected President by ADBs Board of Governors and assumed office on 17 January 2020. Implied in this is the renunciation of drastic methods of capital accumulation and formation which served the Western Industrial Revolution so well. He was first elected to the position on May 28, 2015 by the Bank's Board of Governors at its Annual Meetings held in Abidjan, Cte d'Ivoire. What will make the burden of Mr. Watanabe lighter is the fact that he has a board composed of knowledgeable men and experts in their own fields. [7] The ADB-Japan Scholarship Program (ADB-JSP) enrolls about 300 students annually in academic institutions located in 10 countries within the Region. Carry out investments in the form of loans, grants, and information sharing in infrastructure, health care services, and financial and public administration systems, helping nations prepare for the impact of climate change or better manage their natural resources, as well as other areas. The ADB is committed to achieving prosperous and sustainable Asia and the Pacific. Asian Development Bank was established on 19th December 1966, and it had 31 members at first. The decade also saw an expansion of ADB's membership with the addition of several Central Asian countries following the end of the Cold War. President Asakawa joined the G20 FMCBG meeting at the invitation of the government of India. He has also held several positions at the Committee on Fiscal Affairs, OECD while concurrently serving in his duties at the Ministry of Finance including: Asakawa also served as executive assistant to the prime minister during the period of the Aso Cabinet (20082009). Recently, it has been in news due to the loans and financing it provided to India post-Covid. Prior to joining ADB, he served as Special Advisor to Japans Prime Minister and Minister of Finance, and has a close-to-four decades career at the Ministry of Finance with diverse professional experience that cuts across both domestic and international fronts. COMMITMENT AGAINST POVERTY, IGNORANCE AND DISEASE. About ADB, how were organized, transparency, Projects, publications, products and services, operational priorities, and development knowledge, Countries with operations and subregional programs, country planning documents, Careers, business opportunities, and investor relations, Brunei, Indonesia, Malaysia, Philippines East ASEAN Growth Area (BIMP-EAGA), Central Asia Regional Economic Cooperation (CAREC) Program, Indonesia, Malaysia, Thailand Growth Triangle (IMT-GT), South Asia Subregional Economic Cooperation (SASEC), Civil Society/Non-government Organizations, Rules of Procedure of the Board of Directors of ADB, Republic of Korea / Papua New Guinea / Sri Lanka / Taipei,China / Uzbekistan / Vanuatu / Viet Nam, Kazakhstan / Maldives / Marshall Islands / Mongolia / Pakistan / Philippines / Timor-Leste, Canada / Denmark / Finland / Ireland / The Netherlands / Norway / Sweden, Australia / Azerbaijan / Cambodia / Georgia / Hong Kong, China / Kiribati / Federated States of Micronesia / Nauru / Palau / Solomon Islands / Tuvalu, Armenia / Cook Islands / Fiji / Indonesia / Kyrgyz Republic / New Zealand / Niue / Samoa / Tonga, Brunei Darussalam / Malaysia / Nepal / Singapore / Thailand, Belgium / France / Italy / Portugal / Spain / Switzerland, Afghanistan / Bangladesh / Bhutan / India / Lao Peoples Democratic Republic / Tajikistan / Turkmenistan, Austria / Germany / Luxembourg / Trkiye / United Kingdom. [13] [61], ADB has 68 members (as of 23 March 2019): 49 members from the Asian and Pacific Region, 19 members from Other Regions. Mr. Asakawa obtained his BA from University of Tokyo (Economics Faculty) in 1981, and MPA from Princeton University, USA, in 1985. [35], ADB provides direct financial assistance, in the form of debt, equity and mezzanine finance to private sector companies, for projects that have clear social benefits beyond the financial rate of return. The Asian Development Bank is a regional development bank (ADB) established on 19th December 1966. The interest and participation in this new institution of countries outside the ECAFE region is an indubitable proof of the vision and statemanship of leading countries outside this continent. Under Mr. Asakawas leadership, ADB made significant contributions to the regions COVID-19 pandemic response and recovery planning with a $20 billion comprehensive response package and $9 billion Asia Pacific Vaccine Access Facility. Each year the PSOD finances billions of dollars in letters of credit across all of Asia and the rest of the world. On 26 Feb 2020, ADB raises $118 million from rupee-linked bonds and supporting the development of India International Exchange in India, as it also contributes to an established yield curve which stretches from 2021 through 2030 with $1 billion of outstanding bonds. [18], Asia moved beyond the economic crisis and by 2010 had emerged as a new engine of global economic growth though it remained home to two-thirds of the world's poor. Asian Development Bank presidency: looking beyond Japan ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Cornelio Balmaceda (Philippines), Byung Kyu Chim (Korea), Masaru Fukuda (Japan). 65). "[57], There had been criticism that ADB's large scale projects cause social and environmental damage due to lack of oversight. President Masatsugu Asakawa met with India Prime Minister Narendra Modi and Finance Minister and ADB Governor Nirmala Sitharaman during his visit to New Delhi on 20-22February 201. Asian Development Bank UPSC: Members & President | ADB UPSC He is responsible for the organization, appointment and dismissal of the officers and staff in accordance with regulations adopted by the Board of Directors. Asian Development Bank has approved a 1.5 billion dollar loan to India to help fund its fight against the coronavirus pandemic. Between 1999 and 2000 he served as head of the Technical Assistance Management Unit in the Fiscal Affairs Department of the International Monetary Fund. [34], ADB obtains its funding by issuing bonds on the world's capital markets. Memoir of the President of the Asian Development Bank 2013-2020 (Asian Development Bank, 2022) In April 2013, just five months after Xi Jinping took office as general secretary of the Chinese Communist Party, Takehiko Nakao was appointed president of the Asian Development Bank (ADB). The President of ADB chairs the Board of Directors. He joined ADB on 12 December 2018. . India is one of the founding members of the Asian Development Bank. Asakawa reelected as president of the Asian Development Bank A nominee needs to gain at least half of all votes to become the ADB president. In the case of the Philippines, alone, we have projected our need for foreign investments at more than P3.5 billion over the next three years of a four-year program period. White Revolution: Meaning, Short Note | Operation Flood, IUCN Red List: Categories, Critically Endangered Species in India, Representation of Peoples Act: Salient Features, RPA 1951 UPSC, Roles and Functions of Asian Development Bank, Biosphere Reserves in India Notes for UPSC Exam, BYJU'S Exam Prep: The Exam He was elected President by the Asian Development Banks Board of Governors. Skills Development Project | Asian Development Bank We also know that the obligation of developed nations to help the less developed nations in their own development is a relatively new and revolutionary idea in history. The ADB only yesterday was but an inspired vision. It is headquartered in Manila, Philippines. President Asakawa conveyed ADBs intention to provide $20 billion -$25 billion resources over 5 years to advance the countrys aspirations for fast, inclusive, and green growth. For UPSC 2023 preparation, follow BYJU'S. Shixin Chen | Vice-President, Asian Development Bank Considering that the tensions in Asia remain the gravest menace to world peace, the opening of this great bank directed to the deepest causes of such tensionsmass poverty, ignorance and disease, becomes all the more encouraging and reassuring for mankind. Managing Director General Woochong Um, Private Sector Operations Department Director General Suzanne Gaboury, Sustainable Development and Climate Change Department Director General Bruno Carrasco, Strategy, Policy, and Partnerships Department Deputy Director General Vijay Padmanabhan, Department of Communications Principal Director Bernard Woods, and Assistant Secretary Harumi Kodama also joined the meeting. ADB releases an annual report that summarizes its operations, budget and other materials for review by the public. Before these, he had occupied various prominent positions within the Finance Ministry, including director positions in charge of development policy issues, foreign exchange markets, and international tax policy. As I have told the Asian Labor Ministers Conference just ended in Manila, the Asian Nations today are in the position of being required to wage an industrial revolution without exploitation, no nation today is permitted to suspend human rights in deference to an urgent period of economic development. And it is in this sense that the Asian Development Bank in the end enters the confluence of patriotic ideas associated with the great humanitarian heroes of Asia. And I am glad that the non-regional members of the ADB, representing the developed West, are also taking part in this undertaking, ready to share with Asia the experience and the capacities that are the sources of their own development. The opening of the ADB proves that the forces working for cooperation and fraternity between nations should never be underestimated. : The President, Asian Development Bank, Mr. Takehiko Nakao calls on the Prime Minister, Shri Narendra Modi, in New Delhi on February 05, 2015.jpg Licensing[edit] This file is a copyrighted work of the Government of India, licensed under the Government Open Data License - India (GODL). Masatsugu Asakawa - Wikipedia Article 31), The 12 Directors of the ADB Board of Directors are elected by the Board of Governors. Read thenews release. [18], In December 2005, China donated $20 million to the ADB for a regional poverty alleviation fund; China's first such fund set up at an international institution. The Asian Development Bank has 68 members. Asian Development Bank: Founded in 1966, its headquarters are in Manila, Philippines. The Asian Development Bank admits the members of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP, formerly the Economic Commission for Asia and the Far East or ECAFE) and non-regional developed countries. Why Japan Dominates Leadership of Asian Development Bank - CNBC The Asian Development Bank (ADB) was founded on December 19, 1966, as a regional development bank under the leadership of Japan. From 31 . An expert group was convened to study the idea, with Japan invited to contribute to the group. Speech of President Marcos on the Inauguration of Asian Development Bank. The Filipino people are proud to share with you on our native soil this historic moment in the life of modern Asia. ADB President Masatsugu Asakawa reiterated the banks commitment to strengthening its partnership with Armenia in a virtual meeting with Deputy Prime Minister of Armenia Mher Grigoryan. IN ASIA. 6 ADB Avenue, Mandaluyong City 1550, Metro Manila, Philippines. The President congratulated Mongolia on its recent international bond issuance and measures taken to bolster international reserves. Download ADB notes PDF for civil services exam. Allow me to congratulate the members of the board of directors. President Jin's second five-year term will begin Jan. 16, 2021. We Asians are, therefore, particularly happy about the keen interest shown by the countries outside the ECAFE region to help foster economic growth and cooperation in the region, of Asia and the Far East and contribute to the acceleration of the process of economic development of the developing countries in the region.. 5 March, 2023. File : The President, Asian Development Bank, Mr. Takehiko Nakao.jpg I am delighted to share on ADB support to V20 Initiatives and Partnerships. He was elected President by ADB's Board of Governors and assumed office in April 2013. World Bank to provide US$ 1.5 b over next two years Financial sector and capital market development, including microfinance, small and medium-sized enterprises, and regulatory reforms, is vital to decreasing poverty in Asia and the Pacific.This has been a key priority of the Private Sector Operations Department (PSOD) since 2002. See: Rules of Procedure of the Board of Directors of ADB. "Operating at a global and international level, these banks can undermine people's human rights through projects that have detrimental outcomes for poor and marginalized communities. In August 2021, he was reelected for a 5-year term starting on 24 November 2021. The Asian Development Bank (ADB) envisions a prosperous, inclusive, resilient, and sustainable Asia and the Pacific while sustaining its efforts to eradicate extreme poverty in the region. Hethanked ADBs partners for their hard work in 2020 and called for support to ensure a green, resilient, and inclusive recovery. Notable projects and technical assistance, Largest countries and regions by subscribed capital and voting power, Joined as "British Hong Kong", not "Hong Kong SAR", United Nations Economic and Social Commission for Asia and the Pacific, Banking the Future of Asia and the Pacific: 50 Years of the Asian Development Bank, Department of Foreign Affairs (Philippines), South Asia Subregional Economic Cooperation, "Masatsugu Asakawa Elected ADB President", "Scholarship Program: List of Academic Institutions", "New ADB President Masatsugu Asakawa Assumes Office", "New ADB President Takehiko Nakao Assumes Office", New ADB President Masatsugu Asakawa Assumes Office', "Environment, Climate Change, and Disaster Risk Management", "Information and Communications Technology", "ADF-OCR Merger to Boost Support for Region's Poor", "Management's Discussion and Analysis and Annual Financial Statements", "Private Sector (Nonsovereign) Financing", "ADB raises $118 million from rupee-linked bonds", "Hairatan to Mazar-i-Sharif railway | Railways of Afghanistan", "Water Supply and Sanitation Sector Project Additional Financing in Armenia: General Procurement Notice | Devex", "Proposed Green Power Development Project in Bhutan | Devex", "Government signs loan agreement with ADB for Rural Roads Sector II Investment ProgramProject 4, Special Content Association Releases ConstructionBiz360", "ADB supports vocational education in Indonesia", "Oudomxay hosts belated opening ceremony for water treatment plant", "Food and Nutrition Social Welfare Programme and Project (Capacity Development Project M&E)", "MalolosClark Railway Project: North-South Commuter Railway, PNR Clark - Phase 2", "Philippines: South Commuter Railway Project", "Pacific banks go branchless to reach the unbanked | Scoop News", "Donor Influence in MDBs: The Case of the Asian Development Bank", "The Asian Development Bank and Food Security", "Inter Press Service News and Views from the Global South", "Large-scale ADB projects draw criticism", "RFI NGO criticises ADB and questions its ability to reduce poverty", (space deliberately omitted after the comma). of Takehiko Nakao | World Bank Live Asian Development Bank (ADB) - ClearIAS In this conversation with international broadcaster Zeinab Badawi, ADB President Masatsugu Asakawa shares his thoughts on the pandemic situation, including how he envisages the recovery of the Asia and the Pacific region. Asian Development Bank President (1966 to 2022) The president has a term of office lasting five years, and may be reelected. Statement delivered by Mr. Woochong Um, Managing Director General ADB President Masatsugu Asakawa introduced the 2020 Partnership Report at thisvirtual launch. This event is a hopeful sign that once the energies of nations are directed towards peace and progress, the old narrow limits of possible attainment are soon surpassed. This is carried out through investments in the form of loans, grants and information sharing in infrastructure, health care services, financial and public administration systems, helping nations prepare for the impact of climate change or better manage their natural resources, as well as other areas. Asian Development Bank (ADB) - Key Facts for UPSC - BYJUS The Asian Development Bank is an important topic for both the Prelims and Mains. The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966,[4] which is headquartered in the Ortigas Center located in the city of Mandaluyong, Metro Manila, Philippines. In the early 1990s, ADB moved its offices to Ortigas Center in Pasig City, with the Department of Foreign Affairs (Philippines) taking over its old Pasay premises. Interview with Takehiko Nakao, president, Asian Development Bank - YouTube It was seen as a long-standing priority of the Japanese government as a process by which national economies become more regionally connected. The major objectives of the Asian Development Bank are to achieve inclusive, prosperous, suitable and resilient Asia and the Pacific while reducing extreme poverty. 6 ADB Avenue, Mandaluyong City 1550, Metro Manila, Philippines. A brief summary of Masatsugu Asakawa's career in the Ministry of Finance in Japan is as follows: On 2 December 2019, it was announced that Asakawa had been unanimously elected by Board of Governors of Asian Development Bank (ADB) as the 10th president of the Bank. Upon completion of their study programs, scholars are expected to contribute to the economic and social development of their home countries. According to the latest data, the top five shareholders of the Asian Development Bank are Japan and the United States (each with 15.6% of total shares), followed by the Peoples Republic of China (6.4%), India (6.3%), and Australia (5.8%). Asakawa has also worked in various positions in other international agencies. He was elected President by ADB's Board of Governors and assumed office on 17 January 2020. None can doubt its relevance to the mighty stirring towards a new life of progress and dignity in this oldest of continents. The ADB defines itself as a social development organization that is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Its headquarters are located in Mandaluyong in the greater metropolitan area of Manila in the Philippines. In this regard, we are obliged to cite Mr. U Nyun, secretary general of the ECAFE, who has probably done as much as any other man to bring forth the Asian Development Bank. (ESCAP, United Nations Publication March 2007, "The first parliament of Asia" pp. Watanabe later wrote in his personal history of ADB: "I felt as if the child I had so carefully reared had been taken away to a distant country." On November 18, 1972, the Bank inaugurated its headquarters along Roxas Boulevard in Pasay City, Philippines. See full account in "Banking the Future of Asia and the Pacific: 50 Years of the Asian Development Bank," July 2017. Masatsugu Asakawa | Asian Development Bank He succeeded Takehiko Nakao on 17 January 2020, [12] who succeeded Haruhiko Kuroda in 2013. There will be pressure on member governments to scrutinize more closely and rigorously their own development projects to qualify for assistance, and therefore to raise the level of their own planning and management competence. Jin Liqun has been elected to a second term as President of the Asian Infrastructure Investment Bank (AIIB) by the Bank's Board of Governors. The current president is Masatsugu Asakawa. That such can already be done in the worlds vastest and least homogenousregion, compliments the maturity and open-mindedness of the Asian nations. The inauguration of the Asian Development Bank will surely be remembered as one of the most auspicious events in the history of the region. Eight of the twelve members come from regional (Asia-Pacific) members while the others come from non-regional members.[11]. ADB and its role in the world economy; More details on ADB for UPSC IAS exam. Asia with more than half the world population and a steady trend of population growth is at the very center of the world crisis. It will help prepare technical studies and proposals for loans among the member countries or governments. Asian Development Bank is an official United Nations Observer. [42] ADB does not disclose information that jeopardizes personal privacy, safety and security, certain financial and commercial information, as well as other exceptions. ADB focused on improving roads and providing electricity. We know, however, the proximate causes of the success of this great idea of the ADB. : The President, Asian Development Bank, Mr. Takehiko Nakao calls on the Prime Minister, Shri Narendra Modi, in New Delhi on February 05, 2015.jpg Licensing This file is a copyrighted work of the Government of India, licensed under the Government Open Data License - India (GODL). Ahigh-level panel of experts exchanged views on what it will take to ensure that developing Asias Great Reset points the regiontoward a green, resilient,andinclusivefuture. Between 1989 and 1992 Asakawa was seconded by the Japanese Ministry of Finance to serve as an Executive Assistance to the fifth president of the Asian Development Bank, Kimimasa Tarumizu, in Manila. The main role of the Asian Development Bank is to support the projects of its member countries to make an economic impact, processed through public and private sector operations, and advisory services. In parallel, the concept was formally proposed at a trade conference organized by the Economic Commission for Asia and the Far East (ECAFE) in 1963 by a young Thai economist, Paul Sithi-Amnuai. Although Japan was in the lead, it was still inconclusive, so a final vote was held after lunch. Some of his outstanding achievements in Osaka include the endorsement by the G20 Leaders of the G20 Principles for Quality Infrastructure Investment and the G20 Shared Understanding on the Importance of UHC Financing in Developing Countries. The following table are amounts for 20 largest countries by subscribed capital and voting power at the Asian Development Bank as of December 2020. The non-regional member countries are Austria, Belgium, Canada, Denmark, Finland, West Germany, Italy, The Netherlands, Norway, United Kingdom, United States and Sweden.) Most notably, he served as Chief Advisor to ADB President Kimimasa Tarumizu between 1989 and 1992, during which time he spearheaded the creation of a new office focused on strategic planning. For the UPSC Mains Syllabus, the Asian Development Bank focuses on the functions, recent developments concerning Asian Development Bank and India, etc. Asian Development Bank aims to promote social and economic development in Asia and the Pacific. In addition, the increasing prosperity of many people in the region created a widening income gap that left many people behind. [6] From 31 members at its establishment, ADB now has 68 members. In the third poll, Tokyo gained eight votes to Manila's nine, with one abstention. [41], ADB has an information disclosure policy that presumes all information that is produced by the institution should be disclosed to the public unless there is a specific reason to keep it confidential. Also, he had frequent engagement with the Organisation for Economic Co-operation and Development in such positions as Chair for Committee on Fiscal Affairs (20112016). In the first round on 30 November, Tokyo failed to win a majority, so a second ballot was held the next day at noon. ADB President Masatsugu Asakawa on 18 February delivered akeynote messageduring ESCAP's High-Level Dialogue themed, Shaping the Future of Regional Cooperation in Asia and the Pacific.. Mr. Asakawas professional experience extends beyond the realms of the Japanese government. Moreover, Japan received tangible benefits, 41.67% of the total procurements between 1967 and 1976. Its headquarters are located in Mandaluyong in the greater metropolitan area of Manila in the Philippines. However, the idea received a cool reception from the World Bank itself and the study group became discouraged. Although he initially declined, pressure came from other countries and Watanabe agreed. In this article, we will be covering the Asian Development Bank UPSC notes that include, members, functions, of ABD and voting rights, and the latest news regarding the Asian Development Bank that could be important for the UPSC Exam. ADBPresident Masatsugu Asakawa and AFDChief Executive Remy Rioux today signed a new Partnership Framework Agreement (PFA) to guide development collaboration in Asia and the Pacific from 2022 to 2028. He served as visiting professor at the Graduate School of Economic Science, Saitama University in Tokyo from 2006 to 2009,[2] and at the Graduate School of Arts and Sciences, University of Tokyo from 2012 to 2015. Keynote address by Masatsugu Asakawa,President, Asian Development Bank, at the 21st Ministerial Conference of Central Asia Regional Economic Cooperation (CAREC) Program, 24 November 2022, SpeechbyMasatsugu Asakawa,President,ADB, at the Indonesia Energy Transition Mechanism (ETM) Country Platform launch, 14November 2022 inBali, Indonesia, Keynote address byMasatsugu Asakawa,President,Asian Development Bank, at the Business 20 (B20) Summit dialogue forum of the G20, 13 November 2022 inBali, Indonesia, Speech byMasatsugu Asakawa, President, Asian Development Bank,at the 14th IMT-GT Summit, Phnom Penh, Cambodia, 10 November 2022, Address byMasatsugu Asakawa, President, Asian Development Bank, to the Board of Governors Business Session (Part II), at the 55th Annual Meeting, 27 September2022, Opening statement byMasatsugu Asakawa, President, Asian Development Bank, to press conferenceat the 55th Annual Meeting, 27 September2022, Speech by Masatsugu Asakawa, President, Asian Development Bank, at the G20 2022 Ministerial Symposium on Tax and Development, 14 July 2022, Bali, Indonesia, Keynote address by Masatsugu Asakawa, President, Asian Development Bank, at the Sydney Energy Forum, 12 July 2022, Sydney, Australia, Keynote speech byMasatsugu Asakawa, President, Asian Development Bank, at the 2022 Global Meeting of the Emerging Markets Forum, 18 May 2022, Paris, France, Address byMasatsugu Asakawa, President, Asian Development Bank, to the Board of Governors Business Session, at the 55th Annual Meeting, 5 May 2022. 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president of asian development bank

president of asian development bank

Stefania Palma, Asia editor of The Banker, speaks with Takehiko Nakao, president of Asian Development Bank, during the 2016 ADB meeting held in Frankfurt, Ge. As a key player in the concept, Japan hoped that the ADB offices would be in Tokyo. Hence, with the vast majority of loans going to concessionary (sub-market) loans to the public sector, the ADB is facing considerable financial difficulty and continuous operating losses. ADB released its inaugural climate-related financial disclosures report, further demonstrating ADBs commitment to addressing climate change as Asia and the Pacifics climate bank. He was elected President by the Asian Development Bank's Board of Governors. Asian Development Bank | Familypedia | Fandom At present, Asian Development Bank has 68 members, 49 are from within Asia and the Pacific and 19 are from outside. Masatsugu Asakawa ( , Asakawa Masatsugu, born 25 January 1958), a Japanese civil servant, is the president of the Asian Development Bank (ADB). He was elected President by ADBs Board of Governors and assumed office on 17 January 2020. Implied in this is the renunciation of drastic methods of capital accumulation and formation which served the Western Industrial Revolution so well. He was first elected to the position on May 28, 2015 by the Bank's Board of Governors at its Annual Meetings held in Abidjan, Cte d'Ivoire. What will make the burden of Mr. Watanabe lighter is the fact that he has a board composed of knowledgeable men and experts in their own fields. [7] The ADB-Japan Scholarship Program (ADB-JSP) enrolls about 300 students annually in academic institutions located in 10 countries within the Region. Carry out investments in the form of loans, grants, and information sharing in infrastructure, health care services, and financial and public administration systems, helping nations prepare for the impact of climate change or better manage their natural resources, as well as other areas. The ADB is committed to achieving prosperous and sustainable Asia and the Pacific. Asian Development Bank was established on 19th December 1966, and it had 31 members at first. The decade also saw an expansion of ADB's membership with the addition of several Central Asian countries following the end of the Cold War. President Asakawa joined the G20 FMCBG meeting at the invitation of the government of India. He has also held several positions at the Committee on Fiscal Affairs, OECD while concurrently serving in his duties at the Ministry of Finance including: Asakawa also served as executive assistant to the prime minister during the period of the Aso Cabinet (20082009). Recently, it has been in news due to the loans and financing it provided to India post-Covid. Prior to joining ADB, he served as Special Advisor to Japans Prime Minister and Minister of Finance, and has a close-to-four decades career at the Ministry of Finance with diverse professional experience that cuts across both domestic and international fronts. COMMITMENT AGAINST POVERTY, IGNORANCE AND DISEASE. About ADB, how were organized, transparency, Projects, publications, products and services, operational priorities, and development knowledge, Countries with operations and subregional programs, country planning documents, Careers, business opportunities, and investor relations, Brunei, Indonesia, Malaysia, Philippines East ASEAN Growth Area (BIMP-EAGA), Central Asia Regional Economic Cooperation (CAREC) Program, Indonesia, Malaysia, Thailand Growth Triangle (IMT-GT), South Asia Subregional Economic Cooperation (SASEC), Civil Society/Non-government Organizations, Rules of Procedure of the Board of Directors of ADB, Republic of Korea / Papua New Guinea / Sri Lanka / Taipei,China / Uzbekistan / Vanuatu / Viet Nam, Kazakhstan / Maldives / Marshall Islands / Mongolia / Pakistan / Philippines / Timor-Leste, Canada / Denmark / Finland / Ireland / The Netherlands / Norway / Sweden, Australia / Azerbaijan / Cambodia / Georgia / Hong Kong, China / Kiribati / Federated States of Micronesia / Nauru / Palau / Solomon Islands / Tuvalu, Armenia / Cook Islands / Fiji / Indonesia / Kyrgyz Republic / New Zealand / Niue / Samoa / Tonga, Brunei Darussalam / Malaysia / Nepal / Singapore / Thailand, Belgium / France / Italy / Portugal / Spain / Switzerland, Afghanistan / Bangladesh / Bhutan / India / Lao Peoples Democratic Republic / Tajikistan / Turkmenistan, Austria / Germany / Luxembourg / Trkiye / United Kingdom. [13] [61], ADB has 68 members (as of 23 March 2019): 49 members from the Asian and Pacific Region, 19 members from Other Regions. Mr. Asakawa obtained his BA from University of Tokyo (Economics Faculty) in 1981, and MPA from Princeton University, USA, in 1985. [35], ADB provides direct financial assistance, in the form of debt, equity and mezzanine finance to private sector companies, for projects that have clear social benefits beyond the financial rate of return. The Asian Development Bank is a regional development bank (ADB) established on 19th December 1966. The interest and participation in this new institution of countries outside the ECAFE region is an indubitable proof of the vision and statemanship of leading countries outside this continent. Under Mr. Asakawas leadership, ADB made significant contributions to the regions COVID-19 pandemic response and recovery planning with a $20 billion comprehensive response package and $9 billion Asia Pacific Vaccine Access Facility. Each year the PSOD finances billions of dollars in letters of credit across all of Asia and the rest of the world. On 26 Feb 2020, ADB raises $118 million from rupee-linked bonds and supporting the development of India International Exchange in India, as it also contributes to an established yield curve which stretches from 2021 through 2030 with $1 billion of outstanding bonds. [18], Asia moved beyond the economic crisis and by 2010 had emerged as a new engine of global economic growth though it remained home to two-thirds of the world's poor. Asian Development Bank presidency: looking beyond Japan ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Cornelio Balmaceda (Philippines), Byung Kyu Chim (Korea), Masaru Fukuda (Japan). 65). "[57], There had been criticism that ADB's large scale projects cause social and environmental damage due to lack of oversight. President Masatsugu Asakawa met with India Prime Minister Narendra Modi and Finance Minister and ADB Governor Nirmala Sitharaman during his visit to New Delhi on 20-22February 201. Asian Development Bank UPSC: Members & President | ADB UPSC He is responsible for the organization, appointment and dismissal of the officers and staff in accordance with regulations adopted by the Board of Directors. Asian Development Bank has approved a 1.5 billion dollar loan to India to help fund its fight against the coronavirus pandemic. Between 1999 and 2000 he served as head of the Technical Assistance Management Unit in the Fiscal Affairs Department of the International Monetary Fund. [34], ADB obtains its funding by issuing bonds on the world's capital markets. Memoir of the President of the Asian Development Bank 2013-2020 (Asian Development Bank, 2022) In April 2013, just five months after Xi Jinping took office as general secretary of the Chinese Communist Party, Takehiko Nakao was appointed president of the Asian Development Bank (ADB). The President of ADB chairs the Board of Directors. He joined ADB on 12 December 2018. . India is one of the founding members of the Asian Development Bank. Asakawa reelected as president of the Asian Development Bank A nominee needs to gain at least half of all votes to become the ADB president. In the case of the Philippines, alone, we have projected our need for foreign investments at more than P3.5 billion over the next three years of a four-year program period. White Revolution: Meaning, Short Note | Operation Flood, IUCN Red List: Categories, Critically Endangered Species in India, Representation of Peoples Act: Salient Features, RPA 1951 UPSC, Roles and Functions of Asian Development Bank, Biosphere Reserves in India Notes for UPSC Exam, BYJU'S Exam Prep: The Exam He was elected President by the Asian Development Banks Board of Governors. Skills Development Project | Asian Development Bank We also know that the obligation of developed nations to help the less developed nations in their own development is a relatively new and revolutionary idea in history. The ADB only yesterday was but an inspired vision. It is headquartered in Manila, Philippines. President Asakawa conveyed ADBs intention to provide $20 billion -$25 billion resources over 5 years to advance the countrys aspirations for fast, inclusive, and green growth. For UPSC 2023 preparation, follow BYJU'S. Shixin Chen | Vice-President, Asian Development Bank Considering that the tensions in Asia remain the gravest menace to world peace, the opening of this great bank directed to the deepest causes of such tensionsmass poverty, ignorance and disease, becomes all the more encouraging and reassuring for mankind. Managing Director General Woochong Um, Private Sector Operations Department Director General Suzanne Gaboury, Sustainable Development and Climate Change Department Director General Bruno Carrasco, Strategy, Policy, and Partnerships Department Deputy Director General Vijay Padmanabhan, Department of Communications Principal Director Bernard Woods, and Assistant Secretary Harumi Kodama also joined the meeting. ADB releases an annual report that summarizes its operations, budget and other materials for review by the public. Before these, he had occupied various prominent positions within the Finance Ministry, including director positions in charge of development policy issues, foreign exchange markets, and international tax policy. As I have told the Asian Labor Ministers Conference just ended in Manila, the Asian Nations today are in the position of being required to wage an industrial revolution without exploitation, no nation today is permitted to suspend human rights in deference to an urgent period of economic development. And it is in this sense that the Asian Development Bank in the end enters the confluence of patriotic ideas associated with the great humanitarian heroes of Asia. And I am glad that the non-regional members of the ADB, representing the developed West, are also taking part in this undertaking, ready to share with Asia the experience and the capacities that are the sources of their own development. The opening of the ADB proves that the forces working for cooperation and fraternity between nations should never be underestimated. : The President, Asian Development Bank, Mr. Takehiko Nakao calls on the Prime Minister, Shri Narendra Modi, in New Delhi on February 05, 2015.jpg Licensing[edit] This file is a copyrighted work of the Government of India, licensed under the Government Open Data License - India (GODL). Masatsugu Asakawa - Wikipedia Article 31), The 12 Directors of the ADB Board of Directors are elected by the Board of Governors. Read thenews release. [18], In December 2005, China donated $20 million to the ADB for a regional poverty alleviation fund; China's first such fund set up at an international institution. The Asian Development Bank has 68 members. Asian Development Bank: Founded in 1966, its headquarters are in Manila, Philippines. The Asian Development Bank admits the members of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP, formerly the Economic Commission for Asia and the Far East or ECAFE) and non-regional developed countries. Why Japan Dominates Leadership of Asian Development Bank - CNBC The Asian Development Bank (ADB) was founded on December 19, 1966, as a regional development bank under the leadership of Japan. From 31 . An expert group was convened to study the idea, with Japan invited to contribute to the group. Speech of President Marcos on the Inauguration of Asian Development Bank. The Filipino people are proud to share with you on our native soil this historic moment in the life of modern Asia. ADB President Masatsugu Asakawa reiterated the banks commitment to strengthening its partnership with Armenia in a virtual meeting with Deputy Prime Minister of Armenia Mher Grigoryan. IN ASIA. 6 ADB Avenue, Mandaluyong City 1550, Metro Manila, Philippines. The President congratulated Mongolia on its recent international bond issuance and measures taken to bolster international reserves. Download ADB notes PDF for civil services exam. Allow me to congratulate the members of the board of directors. President Jin's second five-year term will begin Jan. 16, 2021. We Asians are, therefore, particularly happy about the keen interest shown by the countries outside the ECAFE region to help foster economic growth and cooperation in the region, of Asia and the Far East and contribute to the acceleration of the process of economic development of the developing countries in the region.. 5 March, 2023. File : The President, Asian Development Bank, Mr. Takehiko Nakao.jpg I am delighted to share on ADB support to V20 Initiatives and Partnerships. He was elected President by ADB's Board of Governors and assumed office in April 2013. World Bank to provide US$ 1.5 b over next two years Financial sector and capital market development, including microfinance, small and medium-sized enterprises, and regulatory reforms, is vital to decreasing poverty in Asia and the Pacific.This has been a key priority of the Private Sector Operations Department (PSOD) since 2002. See: Rules of Procedure of the Board of Directors of ADB. "Operating at a global and international level, these banks can undermine people's human rights through projects that have detrimental outcomes for poor and marginalized communities. In August 2021, he was reelected for a 5-year term starting on 24 November 2021. The Asian Development Bank (ADB) envisions a prosperous, inclusive, resilient, and sustainable Asia and the Pacific while sustaining its efforts to eradicate extreme poverty in the region. Hethanked ADBs partners for their hard work in 2020 and called for support to ensure a green, resilient, and inclusive recovery. Notable projects and technical assistance, Largest countries and regions by subscribed capital and voting power, Joined as "British Hong Kong", not "Hong Kong SAR", United Nations Economic and Social Commission for Asia and the Pacific, Banking the Future of Asia and the Pacific: 50 Years of the Asian Development Bank, Department of Foreign Affairs (Philippines), South Asia Subregional Economic Cooperation, "Masatsugu Asakawa Elected ADB President", "Scholarship Program: List of Academic Institutions", "New ADB President Masatsugu Asakawa Assumes Office", "New ADB President Takehiko Nakao Assumes Office", New ADB President Masatsugu Asakawa Assumes Office', "Environment, Climate Change, and Disaster Risk Management", "Information and Communications Technology", "ADF-OCR Merger to Boost Support for Region's Poor", "Management's Discussion and Analysis and Annual Financial Statements", "Private Sector (Nonsovereign) Financing", "ADB raises $118 million from rupee-linked bonds", "Hairatan to Mazar-i-Sharif railway | Railways of Afghanistan", "Water Supply and Sanitation Sector Project Additional Financing in Armenia: General Procurement Notice | Devex", "Proposed Green Power Development Project in Bhutan | Devex", "Government signs loan agreement with ADB for Rural Roads Sector II Investment ProgramProject 4, Special Content Association Releases ConstructionBiz360", "ADB supports vocational education in Indonesia", "Oudomxay hosts belated opening ceremony for water treatment plant", "Food and Nutrition Social Welfare Programme and Project (Capacity Development Project M&E)", "MalolosClark Railway Project: North-South Commuter Railway, PNR Clark - Phase 2", "Philippines: South Commuter Railway Project", "Pacific banks go branchless to reach the unbanked | Scoop News", "Donor Influence in MDBs: The Case of the Asian Development Bank", "The Asian Development Bank and Food Security", "Inter Press Service News and Views from the Global South", "Large-scale ADB projects draw criticism", "RFI NGO criticises ADB and questions its ability to reduce poverty", (space deliberately omitted after the comma). of Takehiko Nakao | World Bank Live Asian Development Bank (ADB) - ClearIAS In this conversation with international broadcaster Zeinab Badawi, ADB President Masatsugu Asakawa shares his thoughts on the pandemic situation, including how he envisages the recovery of the Asia and the Pacific region. Asian Development Bank President (1966 to 2022) The president has a term of office lasting five years, and may be reelected. Statement delivered by Mr. Woochong Um, Managing Director General ADB President Masatsugu Asakawa introduced the 2020 Partnership Report at thisvirtual launch. This event is a hopeful sign that once the energies of nations are directed towards peace and progress, the old narrow limits of possible attainment are soon surpassed. This is carried out through investments in the form of loans, grants and information sharing in infrastructure, health care services, financial and public administration systems, helping nations prepare for the impact of climate change or better manage their natural resources, as well as other areas. Asian Development Bank (ADB) - Key Facts for UPSC - BYJUS The Asian Development Bank is an important topic for both the Prelims and Mains. The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966,[4] which is headquartered in the Ortigas Center located in the city of Mandaluyong, Metro Manila, Philippines. In the early 1990s, ADB moved its offices to Ortigas Center in Pasig City, with the Department of Foreign Affairs (Philippines) taking over its old Pasay premises. Interview with Takehiko Nakao, president, Asian Development Bank - YouTube It was seen as a long-standing priority of the Japanese government as a process by which national economies become more regionally connected. The major objectives of the Asian Development Bank are to achieve inclusive, prosperous, suitable and resilient Asia and the Pacific while reducing extreme poverty. 6 ADB Avenue, Mandaluyong City 1550, Metro Manila, Philippines. A brief summary of Masatsugu Asakawa's career in the Ministry of Finance in Japan is as follows: On 2 December 2019, it was announced that Asakawa had been unanimously elected by Board of Governors of Asian Development Bank (ADB) as the 10th president of the Bank. Upon completion of their study programs, scholars are expected to contribute to the economic and social development of their home countries. According to the latest data, the top five shareholders of the Asian Development Bank are Japan and the United States (each with 15.6% of total shares), followed by the Peoples Republic of China (6.4%), India (6.3%), and Australia (5.8%). Asakawa has also worked in various positions in other international agencies. He was elected President by ADB's Board of Governors and assumed office on 17 January 2020. None can doubt its relevance to the mighty stirring towards a new life of progress and dignity in this oldest of continents. The ADB defines itself as a social development organization that is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Its headquarters are located in Mandaluyong in the greater metropolitan area of Manila in the Philippines. In this regard, we are obliged to cite Mr. U Nyun, secretary general of the ECAFE, who has probably done as much as any other man to bring forth the Asian Development Bank. (ESCAP, United Nations Publication March 2007, "The first parliament of Asia" pp. Watanabe later wrote in his personal history of ADB: "I felt as if the child I had so carefully reared had been taken away to a distant country." On November 18, 1972, the Bank inaugurated its headquarters along Roxas Boulevard in Pasay City, Philippines. See full account in "Banking the Future of Asia and the Pacific: 50 Years of the Asian Development Bank," July 2017. Masatsugu Asakawa | Asian Development Bank He succeeded Takehiko Nakao on 17 January 2020, [12] who succeeded Haruhiko Kuroda in 2013. There will be pressure on member governments to scrutinize more closely and rigorously their own development projects to qualify for assistance, and therefore to raise the level of their own planning and management competence. Jin Liqun has been elected to a second term as President of the Asian Infrastructure Investment Bank (AIIB) by the Bank's Board of Governors. The current president is Masatsugu Asakawa. That such can already be done in the worlds vastest and least homogenousregion, compliments the maturity and open-mindedness of the Asian nations. The inauguration of the Asian Development Bank will surely be remembered as one of the most auspicious events in the history of the region. Eight of the twelve members come from regional (Asia-Pacific) members while the others come from non-regional members.[11]. ADB and its role in the world economy; More details on ADB for UPSC IAS exam. Asia with more than half the world population and a steady trend of population growth is at the very center of the world crisis. It will help prepare technical studies and proposals for loans among the member countries or governments. Asian Development Bank is an official United Nations Observer. [42] ADB does not disclose information that jeopardizes personal privacy, safety and security, certain financial and commercial information, as well as other exceptions. ADB focused on improving roads and providing electricity. We know, however, the proximate causes of the success of this great idea of the ADB. : The President, Asian Development Bank, Mr. Takehiko Nakao calls on the Prime Minister, Shri Narendra Modi, in New Delhi on February 05, 2015.jpg Licensing This file is a copyrighted work of the Government of India, licensed under the Government Open Data License - India (GODL). Ahigh-level panel of experts exchanged views on what it will take to ensure that developing Asias Great Reset points the regiontoward a green, resilient,andinclusivefuture. Between 1989 and 1992 Asakawa was seconded by the Japanese Ministry of Finance to serve as an Executive Assistance to the fifth president of the Asian Development Bank, Kimimasa Tarumizu, in Manila. The main role of the Asian Development Bank is to support the projects of its member countries to make an economic impact, processed through public and private sector operations, and advisory services. In parallel, the concept was formally proposed at a trade conference organized by the Economic Commission for Asia and the Far East (ECAFE) in 1963 by a young Thai economist, Paul Sithi-Amnuai. Although Japan was in the lead, it was still inconclusive, so a final vote was held after lunch. Some of his outstanding achievements in Osaka include the endorsement by the G20 Leaders of the G20 Principles for Quality Infrastructure Investment and the G20 Shared Understanding on the Importance of UHC Financing in Developing Countries. The following table are amounts for 20 largest countries by subscribed capital and voting power at the Asian Development Bank as of December 2020. The non-regional member countries are Austria, Belgium, Canada, Denmark, Finland, West Germany, Italy, The Netherlands, Norway, United Kingdom, United States and Sweden.) Most notably, he served as Chief Advisor to ADB President Kimimasa Tarumizu between 1989 and 1992, during which time he spearheaded the creation of a new office focused on strategic planning. For the UPSC Mains Syllabus, the Asian Development Bank focuses on the functions, recent developments concerning Asian Development Bank and India, etc. Asian Development Bank aims to promote social and economic development in Asia and the Pacific. In addition, the increasing prosperity of many people in the region created a widening income gap that left many people behind. [6] From 31 members at its establishment, ADB now has 68 members. In the third poll, Tokyo gained eight votes to Manila's nine, with one abstention. [41], ADB has an information disclosure policy that presumes all information that is produced by the institution should be disclosed to the public unless there is a specific reason to keep it confidential. Also, he had frequent engagement with the Organisation for Economic Co-operation and Development in such positions as Chair for Committee on Fiscal Affairs (20112016). In the first round on 30 November, Tokyo failed to win a majority, so a second ballot was held the next day at noon. ADB President Masatsugu Asakawa on 18 February delivered akeynote messageduring ESCAP's High-Level Dialogue themed, Shaping the Future of Regional Cooperation in Asia and the Pacific.. Mr. Asakawas professional experience extends beyond the realms of the Japanese government. Moreover, Japan received tangible benefits, 41.67% of the total procurements between 1967 and 1976. Its headquarters are located in Mandaluyong in the greater metropolitan area of Manila in the Philippines. However, the idea received a cool reception from the World Bank itself and the study group became discouraged. Although he initially declined, pressure came from other countries and Watanabe agreed. In this article, we will be covering the Asian Development Bank UPSC notes that include, members, functions, of ABD and voting rights, and the latest news regarding the Asian Development Bank that could be important for the UPSC Exam. ADBPresident Masatsugu Asakawa and AFDChief Executive Remy Rioux today signed a new Partnership Framework Agreement (PFA) to guide development collaboration in Asia and the Pacific from 2022 to 2028. He served as visiting professor at the Graduate School of Economic Science, Saitama University in Tokyo from 2006 to 2009,[2] and at the Graduate School of Arts and Sciences, University of Tokyo from 2012 to 2015. Keynote address by Masatsugu Asakawa,President, Asian Development Bank, at the 21st Ministerial Conference of Central Asia Regional Economic Cooperation (CAREC) Program, 24 November 2022, SpeechbyMasatsugu Asakawa,President,ADB, at the Indonesia Energy Transition Mechanism (ETM) Country Platform launch, 14November 2022 inBali, Indonesia, Keynote address byMasatsugu Asakawa,President,Asian Development Bank, at the Business 20 (B20) Summit dialogue forum of the G20, 13 November 2022 inBali, Indonesia, Speech byMasatsugu Asakawa, President, Asian Development Bank,at the 14th IMT-GT Summit, Phnom Penh, Cambodia, 10 November 2022, Address byMasatsugu Asakawa, President, Asian Development Bank, to the Board of Governors Business Session (Part II), at the 55th Annual Meeting, 27 September2022, Opening statement byMasatsugu Asakawa, President, Asian Development Bank, to press conferenceat the 55th Annual Meeting, 27 September2022, Speech by Masatsugu Asakawa, President, Asian Development Bank, at the G20 2022 Ministerial Symposium on Tax and Development, 14 July 2022, Bali, Indonesia, Keynote address by Masatsugu Asakawa, President, Asian Development Bank, at the Sydney Energy Forum, 12 July 2022, Sydney, Australia, Keynote speech byMasatsugu Asakawa, President, Asian Development Bank, at the 2022 Global Meeting of the Emerging Markets Forum, 18 May 2022, Paris, France, Address byMasatsugu Asakawa, President, Asian Development Bank, to the Board of Governors Business Session, at the 55th Annual Meeting, 5 May 2022.

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