At the G20 Finance Ministers and a Central Bank Governors (FMCBG) meeting on February 24-25 2923, President Masatsugu Asakawa made one of the lead interventions in the session focusing on international financial architecture, sustainable finance and infrastructure. It may not be inappropriate, therefore, as someone has suggested, to call it a sort of World Bank for Asia.. [9], As of 31 December 2020, Japan and the United States each holds the largest proportion of shares at 15.571%. (They are Afghanistan, Australia, Cambodia, Ceylon, Nationalist China, India, Iran, Japan, Korea, Laos, Malaysia, Nepal, New Zealand, Pakistan, The Philippines, Singapore, South Vietnam, Thailand and West Samoa. Why Japan Dominates Leadership of Asian Development Bank - CNBC Countries in central and west Asia have endorsed three new cross-border cooperation initiatives to help accelerate the regions recovery from the COVID-19 pandemic, improve food security, and boost the development of clean energy. (UPSC 2022). The regional Asian Development Bank members are: Afghanistan, Armenia, Australia, Azerbaijan, Bangladesh, Bhutan, Brunei Darussalam, Cambodia, Cook Islands, Federated States of Micronesia, Fiji, Georgia, Hong Kong, China, India, Indonesia, Japan, Kazakhstan, Kiribati, Kyrgyz Republic, Lao Peoples Democratic Republic, Malaysia, Maldives, Marshall Islands, Mongolia, Myanmar, Nauru, Nepal, New Zealand, Niue, Pakistan, Palau, Papua New Guinea, Peoples Republic of China, Philippines, Republic of Korea, Samoa, Singapore, Solomon Islands, Sri Lanka, Taipei, China, Tajikistan, Thailand, Timor-Leste, Tonga, Turkmenistan, Tuvalu, Uzbekistan, Vanuatu, and Viet Nam. The early 2000s saw a dramatic expansion of private sector finance. 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 Japanese and the. About Asian Development Bank | Flickr 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. The battle against climate change will be won or lost in . It also relies on the contributions of member countries, retained earnings from lending operations, and the repayment of loans. Asian Development Bank UPSC: Members & President | ADB UPSC 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. India is one of the founding members of the Asian Development Bank. The per capita loans from the World Bank on a regional basis are $2.80 to Asia, $3.04 to Africa and $4.20 to Europe. When Watanabe was recommended, the two streams proposing a new bankfrom ECAFE and Japancame together. He was elected President by ADB's Board of Governors and assumed office on 17 January 2020. 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.