Japan Backs Masato Kanda for ADB Leadership

Japan has nominated Masato Kanda, a former top currency diplomat, as its candidate for the new head of the Asian Development Bank (ADB). Historically, the ADB's leadership has been Japanese, given Japan's significant stake in the institution alongside the United States.

Japan has officially nominated Masato Kanda, the former top currency diplomat, as its candidate for the next head of the Asian Development Bank (ADB), Finance Minister Shunichi Suzuki announced on Tuesday.

Since its inception in 1966, leadership of the ADB has traditionally been held by a Japanese national. This is largely due to Japan's substantial share in the institution, shared with the United States.

Kanda's nomination strengthens his position as a leading contender to assume the top post in the ADB, given his extensive experience and Japan's historical influence within the bank.

(With inputs from agencies.)