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By APD writer Melo M. Acuña
Asian Development Bank President Takehiko Nakao announced his resignation as head of the 52 year-old regional bank effective January 16,2020. It will be recalled he assumed office as President on April 28,2013.
In a statement released this afternoon, the ADB said the election for the new president will be in accordance with the open, transparent and merit-based procedure.
Speaking to the ADB staff and Board members, Mr. 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 referred to the expanded ADB operations with an increase in new lending and grant from US$14 billion in 2013 to US$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.
President Nakao also said there were important knowledge works including ADB’s 50 years history book, his visit to many member countries, deeper cooperation with development partners, the institutional reforms to make ADB “stronger, better and faster,’ as well as the proactive human resource management. He also underscored the improvement of financial sustainability of the staff pension system by introducing defined contribution plan for new hires.
He said ADB will continue to develop and reinvent itself for responding to changing needs of developing member countries and for the pursuit of 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 concluded. He did not cite any reason for his resignation.
(ASIA PACIFIC DAILY)
