Asian Development Bank (ADB) President Takehiko Nakao

Asian Development Bank (ADB) President Takehiko Nakao will step down as head of the 52-year-old regional bank on Jan. 16, 2020.

Speaking to the ADB staff and board members, Nakao said “I am announcing my resignation with a deep sense of satisfaction and gratitude.  With support from staff, Board members, member governments, we have achieved many things.”

He cited the expanded ADB operations, with an increase in new lending and grants from $14 billion in 2013 to $22 billion in 2019 while incorporating more advanced technologies into projects.  He also referred to the merger of ordinary capital resources and concessional lending as well as the launching of Strategy 2030. 

Nakao, who assumed office on April 28, 2013, also said there were important knowledge works during his term, such as a book on ADB’s 50 years of operations, deeper cooperation with development partners, and institutional reforms such as proactive human resource management.

He also underscored the improved financial sustainability of the Manila-based ADB’s staff pension system, with the introduction of defined contribution plans for new hires.

He said ADB would continue to develop and reinvent itself to respond to changing needs of developing countries and pursue its mission to help achieve “a prosperous, inclusive, resilient and sustainable Asia and the Pacific.”

“I am committed that I will do my best in performing my responsibility until my last day at ADB,” he said. Melo M. Acuña