ADB president Takehiko Nakao resigns, to continue in office till January next year

Asian Development Bank (ADB) on Tuesday said its President Takehiko Nakao has announced his resignation which will be effective from 16 January next year

Press Trust of India September 17, 2019 14:31:17 IST
ADB president Takehiko Nakao resigns, to continue in office till January next year
  • The new president will be elected in accordance with an open, transparent and merit-based procedure, ADB said in a statement

  • Takehiko Nakao became the President of ADB on 28 April, 2013

  • ADB, enlisting the achievements of the current President, said he expanded the operations of the funding agency from $14 billion in 2013 to $22 billion in 2018 while incorporating more advanced technologies into projects

New Delhi: Asian Development Bank (ADB) on Tuesday said its President Takehiko Nakao has announced his resignation which will be effective from 16 January next year.

He became the President of ADB on 28 April, 2013.

The new president will be elected in accordance with an open, transparent and merit-based procedure, ADB said in a statement.

ADB president Takehiko Nakao resigns to continue in office till January next year

File photo of Asian Development Bank (ADB) President Takehiko Nakao . Reuters

"I am announcing my resignation with a deep sense of satisfaction and gratitude. With support from staff, Board members, and member governments, we have achieved many things," Takehiko said in his remarks to the staff and board of members of ADB.

ADB, enlisting the achievements of the current President, said he expanded the operations of the funding agency from $14 billion in 2013 to $22 billion in 2018 while incorporating more advanced technologies into projects.

He also ushered in the merger of Ordinary Capital Resources and concessional lending operation of the Asian Development Fund (ADF) and steered the launch of 'Strategy 2030', among others.

Takehiko also emphasized ADB must continue to be an important centre for fostering cooperation and friendship among countries, said Manila-headquartered multi-lateral funding agency.

Updated Date:

also read

Explained: As G7 plans Build Back Better World, here's how much China has spent on Belt And Road Initiative
World

Explained: As G7 plans Build Back Better World, here's how much China has spent on Belt And Road Initiative

Compared to the post-World War domination that the US achieved, China may appear relatively new to the game. But the dragon has already made big strides; it is the US that may appear like it needs to play catch-up

Growing convergence between India, G7 on China threat makes Cornwall meet crucial for New Delhi
World

Growing convergence between India, G7 on China threat makes Cornwall meet crucial for New Delhi

The references to China, direct and indirect, at the G7 Summit are helpful from India’s point of view in taking cognisance of the mounting Chinese threat with which the country is now confronted more openly and durably