INCUMBENT Asian Development Bank (ADB) President Mr Masatsugu Asakawa on Monday expressed his intention to stand for re-election after his current tenure ends on November 23, 2021.

ADB Presidents are nominated from ADB's regional members for a 5-year term and elected by the ADB Board of Governors. Mr Asakawa was elected as president by the Board of Governors on November 30, 2019 and assumed office in January 17, 2020 to serve the remaining term of his predecessor, Mr Takehiko Nakao.

Under his leadership, ADB has worked closely with its Developing Member Countries (DMCs) throughout the COVID-19 pandemic to design and implement effective solutions for Asia and the Pacific region, while continuing to address long-term development agendas such as gender, climate change, and private sector development.

"If re-elected, I commit to strengthening ADB's focus on supporting DMCs' recovery from the COVID-19 crisis, to deepening our partnerships with all ADB members and peer organizations, and to ensuring staff well-being," said Mr Asakawa. "ADB will make every effort to ensure our DMCs can sustain the impressive gains they have achieved and continue their progress toward a resilient, green, and inclusive future."

In April last year, ADB announced a USD 20 billion comprehensive response package, covering both sovereign and non-sovereign assistance, to help its DMCs mitigate the impacts of the pandemic. In December, ADB launched the USD 9 billion Asia Pacific Vaccine Access Facility to provide rapid and equitable support to its DMCs as they procure and deliver effective and safe COVID-19 vaccines.

ADB also concluded a successful replenishment of more than USD 4 billion for its Asian Development Fund and Technical Assistance Special Fund which are providing critical grant resources to help its most vulnerable DMCs overcome the pandemic and address various long-term development goals.

ADB's total commitments in 2020 reached a record high of USD 31.6 billion, with just over half supporting operations to respond to the pandemic. The remainder was committed to address long-term development issues such as the gender equality gap, the impacts of climate change, and investments in quality infrastructure. These achievements were supported by record-high co-financing of USD 16.4 billion and record-high capital market borrowings of USD 35.8 billion.

At the institutional level, Mr Asakawa led ADB staff as they adapted to new work arrangements and continued implementation of the organisation's digital transformation.

ADB also launched a new Knowledge Management Action Plan which will enable the development and delivery of the most practical and cutting-edge knowledge solutions to its DMCs, and a culture transformation initiative to empower staff and management to achieve the goals of Strategy 2030, ADB's corporate strategy.