Masatsugu Asakawa has been unanimously elected as the new President of the Asian Development Bank (ADB) by its Board of Governors.

Asakawa, 61, currently Special Adviser to Japan’s Prime Minister and Minister of Finance, will assume office as ADB’s 10th President on 17 January 2020, said an ADB press release.

He will succeed Takehiko Nakao, who will leave office on 16 January 2020.

Asakawa will finish the unexpired term of President Nakao, which ends on 23 November 2021.