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ADB president Kuroda wins re-election

11 August 2011 12:21 (UTC +04:00)

Baku â€“ APA-Economics. Ex-Japanese government adviser Haruhiko Kuroda has been re-elected president of the Asian Development Bank for a second five-year term, GFS News reported.

The unanimous vote means that at the end of his second five-year term, Kuroda will have served in the bank’s top job for 12 years.

His first five-year term began in November 2006, but he was first elected as president and chairman of the board of directors in 2004 for a period of two years.

The ADB, an intergovernmental financial institution with 67 member states, is a major source of funding for financial sector reforms in Asian and Pacific countries.

Since he joined, Kuroda has seen the bank’s base capital tripled from $55bn to $165bn. He has pushed corporate governance reforms and highlighted the impact of climate change on Asian countries.

"I am honored by the decision of ADB’s board of governors to serve a second five-year term and look forward to the challenges ahead," said Mr. Kuroda in a statement.

"While countries in Asia and the Pacific have made remarkable progress since I first joined ADB over six years ago, we must not forget that.