We should invest in low carbon development – not only because it can put us on a path to a net zero future, but because it will increase prospects for strong and sustainable growth. The Asian Development Bank said Tuesday that its president, Masatsugu Asakawa, was re-elected for a second term. „My vision for the upcoming term is for the ADB to serve as the premier development institution for Asia and the Pacific as it supports its developing …
Get information on country economic data and analysis, development assistance, and regional initiatives. The president of Asian Development Bank Masatsugu Asakawa arrives to attend the opening of the G20 finance ministers meeting in Jakarta on February… Second, I want to take full advantage of ADB’s unique feature of having private sector and sovereign operations under one roof, with one balance sheet. Our One ADB approach will consolidate our expertise and knowledge seamlessly. We will further promote staff mobility, enhance knowledge sharing, and equip promising staff with a broader perspective to apply an integrated approach to our operations. I believe a person with a breadth of experience is better able to manage a diverse workforce.
The first is the need to address debt sustainability; and the other is to achieve the Sustainable Development Goals, or SDGs. ADB President Masatsugu Asakawa introduced the 2020 Partnership Report at this virtual launch. He thanked ADB’s partners for their hard work in 2020 and called for support to ensure a green, resilient, and inclusive recovery. Asia and the Pacific must overhaul its energy sector to transition to a net-zero future that is vital in the fight against climate change, ADB President Masatsugu Asakawa said at the Asia Clean Energy Forum. ADB released its inaugural climate-related financial disclosures report, further demonstrating ADB’s commitment to addressing climate change as Asia and the Pacific’s climate bank. Prior to joining ADB, he served as Special Advisor to Japan’s Prime Minister and Minister of Finance, and has a close-to-four decades’ career at the Ministry of Finance with diverse professional experience that cut across both domestic and international fronts.
During his stint at the finance ministry, he gained experience in developing national policies, overseeing foreign exchange markets, and managing international tax policies. The new vice finance minister for international affairs is likely to stick with masatsugu asakawa the G7 and G20 commitment to market-set exchange rates and a policy that does not target currencies. Asakawa currently chairs the OECD Committee on Fiscal Affairs, dealing with an anti-tax avoidance action plan known as the anti-BEPS directive.
Business :ADB establishes high-level advisory group for Covid-19 vaccines
Our current worldviews encourage a solipsism that is the basis of all bad behaviors. We propose establishing a Steering Committee to bring together key development partners and DMCs willing to actively engage in the Tax Hub. It will work closely together with the Secretariat to lead the operation of the Tax Hub. Third, ADB will continue leading policy dialogues with the OECD to raise awareness, facilitate membership, and stimulate proactive participation of our DMCs in the Inclusive Framework on BEPS and the Global Forum. Next month, we are co-hosting regional consultations on proposed actions under Pillars 1 and 2 of the Inclusive Framework.
The rate of participation in the Global Forum on Transparency and Exchange of Information for Tax Purposes also shows room for improvement. Second, at a time when governments must explore ways to increase tax revenues, they also need to build and maintain public trust by demonstrating that tax burdens are distributed fairly and equally. On the tax administration side, addressing the large size of the informal economy is a common challenge for many DMCs. We can also start joint analysis and knowledge sharing on how to enhance capacity to monitor taxpayers, and make tax administrations more efficient with effective digital tools.
On 2 December 2019, it was announced that Asakawa had been unanimously elected by Board of Governors of Asian Development Bank as the 10th president of the Bank. The Government of Japan nominated Asakawa as a candidate for position of president ADB in September 2019. The former ADB president, Takehiko Nakao, announced that he would retire as ADB president on 16 January 2020 so Asakawa took up his position as ADB president on 17 January 2020. In the first instance, Asakawa was expected to serve out the remainder of the five-term presidential term which Nakao began in November 2016.
Christine Lagarde, managing director of the International Monetary Fund , center right, and Masatsugu Asakawa, vice minister for international… Since 1990, when I was previously an ADB staff member, GDP per capita in developing Asia increased from $1,078 to $4,093 in constant 2010 dollars. Many countries now work together under regional cooperation and integration initiatives, which provide a basis for regional stability and economic growth.
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- In addition to improving energy efficiency, renewable energy can help countries to diversify their current energy supply mix with cheaper and low-carbon energy resources.
- Masatsugu Asakawa, vice minister for international affairs at Japan’s Ministry of Finance, delivers a speech during an event marking the 20th…
- Asakawa, 57, who has been director-general of the finance ministry’s international bureau, will take over from Tatsuo Yamasaki, who will retire.
- ADB President Masatsugu Asakawa introduced the 2020 Partnership Report at this virtual launch.
ADB continues to monitor the situation closely and stands ready to provide swift assistance to affected countries if requested. Taro Aso, Japan’s deputy prime minister and finance minister, center, speaks while Haruhiko Kuroda, governor of the Bank of Japan , right, and… High quality infrastructure principles are very important for our developing member countries. Ageing, which was a topic never before discussed in the G20 until the meetings under the Japanese presidency, is increasingly relevant to our members in the face of demographic trends.
Business Aug 31, 2021
ADB to Support Sustainable Agriculture in Yellow River Basin, PRCADB has approved a $157 million loan to improve sustainable agricultural production systems in the Yellow River basin in the People’s Republic of China. Mr. Asakawa, 61, currently Special Advisor to Japan’s Prime Minister and Minister of Finance, will assume office as ADB’s 10th President on 17 January 2020. Mr. Asakawa will finish the unexpired term of President Nakao, which ends on 23 November 2021. Due to this, there are also a lot of unscrupulous people who take advantage… Masatsugu Asakawa is the President of the Asian Development Bank and the Chairperson of ADB’s Board of Directors. He was elected President by ADB’s Board of Governors and assumed office on 17 January 2020.
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These issues require strong attention now because governments need to secure sufficient financial resources to contain the spread of COVID-19, procure safe and effective vaccines, and get the economy back to a sustainable recovery track, without losing market confidence. A high-level panel of experts exchanged views on what it will take to ensure that developing Asia’s Great Reset points the region toward a green, resilient, and inclusive future. In this conversation with international broadcaster Zeinab Badawi, ADB President Masatsugu Asakawa shares his thoughts on the pandemic situation, including how he envisages the recovery of the Asia and the Pacific region. On 25 October, President Asakawa joined ROK President Yoon Suk-yeol, Nigeria President Muhammadu Buhari, Viet Nam Prime Minister Pham Minh Chinh, WHO Director General Tedros Ghebreyesus, and former UN Secretary General Ban Ki-moon at the first World Bio Summit.
Masatsugu Asakawa, Special Advisor to Japan’s Prime Minister, Elected ADB President
President Masatsugu Asakawa provided the Management’s report to Governors on the progress since the previous meeting and shared Management’s key organizational messages with the Governors. The regular five-year election for the position of ADB president was held as scheduled in mid-2021. Asakawa was the only candidate and received unanimous support for a five-year term beginning on 24 November 2021.
The Asian Development Bank has launched a hub to create an open and inclusive platform to promote strategic policy dialogue, improve knowledge sharing and strengthen coordination on tax policy and administration among ADB members and developmen … The Asian Development Bank has joined with leading public health experts, vaccine regulators and policymakers to form an advisory group to provide its developing member countries with expert technical and scientific advice on the quality … Japan last intervened in the markets in November 2011 to stem a strong yen. In 1998, it bought the yen to support the currency, when the country was grappling with the Asian financial crisis and its own banking crisis. Asakawa, 57, who has been director-general of the finance ministry’s international bureau, will take over from Tatsuo Yamasaki, who will retire.
Prior to joining ADB, he served as Special Advisor to Japan’s Prime Minister and Minister of Finance, and has a close-to-four decades’ career at the Ministry of Finance with diverse professional experience that cuts across both domestic and international fronts. In a frank and engaging conversation with international broadcast journalist Zeinab Badawi, ADB President Masatsugu Asakawa offered his vision and ideas for change towards a better, greener, more sustainable, and resilient Asia and the Pacific. Panelists in this event addressed how economies in Asia and the Pacific can achieve an energy transition that meets rapidly rising demand. President Masatsugu Asakawa, International Energy Agency Executive Director Fatih Birol, Philippine Energy Regulatory Commission Chair Monalisa Dimalanta, and Avaada Group Vice Chairperson Sindoor Mittal joined the CNBC Debate on 29 September 2022. Panelists discussed approaches to enabling and financing a successful transition to low-carbon power, including the Energy Transition Mechanism, while ensuring the shift is inclusive and just for all. Work with us to find fulfillment in sharing your knowledge and skills, and be a part of our vision in achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific.
II. Asia Pacific Tax Hub
The platform brings together partners to invest alongside ADB’s own financing. With pledges of $665 million from the UK government, the Green Climate Fund, the European Union, and Cassa Depositi e Prestiti, the Green Recovery Platform will de-risk investments and catalyze $7 billion in public and private capital for green infrastructure projects. ADB estimates that developing Asia needs $1.7 trillion per year to support climate resilient infrastructure. ASEAN countries alone need $210 billion per year, but they currently face an estimated funding gap of over $100 billion per year. Fourth, under the Tax Hub, ADB will proactively use our financial instruments—such as policy-based and project lending—to promote DRM, adoption of international tax standards, and strengthened technology investment by revenue agencies. ADB recently approved a technical assistance program to establish a secretariat and to develop a web portal.
Before these, he had occupied various prominent positions within the Finance Ministry, including director positions in charge of development policy issues, foreign exchange markets, and international tax policy. Masatsugu Asakawa, the Finance Ministry’s vice minister for international affairs, speaks with reporters after an emergency meeting of senior… Masatsugu Asakawa, vice minister for international affairs at Japan’s Ministry of Finance, attends a news conference following the 20th ASEAN+3… Christine Lagarde, managing director of the International Monetary Fund , center, and Masatsugu Asakawa, vice minister for international affairs at… Our new energy policy articulates this commitment to support the low-carbon energy transition in Asia and the Pacific. It reflects our decision to withdraw from coal financing and to ensure access to affordable, sustainable, and modern energy for all.
We will reach out to our members and development partners to consult on potential topics of interest and explore how the Tax Hub could partner with your authorities to provide solutions to many of the DRM and ITC reforms that you are and will be pursuing. Many thanks to our distinguished panelists and moderator for joining us today, and to the Republic of Korea and Japan for funding the establishment of the Asia Pacific Tax Hub through the e-Asia and Knowledge Partnership Fund and the Domestic Resource Mobilization Trust Fund. This lack of engagement in ITC may lead to more unilateral tax measures, increasing the occurrence of double taxation and undermining cross-border trade and investments. The tax-to-GDP ratio in some DMCs, such as Indonesia, remains below the 15% benchmark, widely regarded as the minimum level for sustainable growth. While Brazilian President Jair Bolsonaro has been voted out of office, the forces that empowered him retain considerable economic, political, and cultural influence. In many ways, those forces will make or break President-elect Luiz Inácio Lula da Silva’s tenure.
First, Ms. Baer from IMF highlighted that tailored and holistic reforms in line with a medium-term revenue strategy can help governments restore debt sustainability and promote inclusive and sustainable growth. Regrettably, https://1investing.in/ my friends, international cooperation on tax issues in this region is still lagging. More than half of our DMCs are still not participating in the Inclusive Framework on Base Erosion and Profit Shifting.
Asakawa also served as executive assistant to the prime minister during the period of the Aso Cabinet (2008–2009). Asakawa will finish the unexpired term of President Nakao, which ends on November 23, 2021, the Manila-based multilateral funding agency said in a statement. Asakawa’s broad network with policymakers both inside and outside Japan puts him in an ideal position to coordinate with the Bank of Japan and other nations at a time when the Greek debt crisis threatens to ripple through the world economy. My friends, we all need to pick up the scale and pace of the energy transition.
The additional $20 billion in financing support will provide support for climate mitigation efforts including low-carbon energy sources. The conference will report on progress and discuss next steps on the three building blocks of the Tax Hub, including details of the operations of the Secretariat and Steering Committee. We look forward to participation from high-level officials of tax policy and administrations. The Asia Pacific Tax Hub will play a key role in these agendas by stimulating regional dialogue and knowledge sharing on needed reforms.
He served as Finance Deputy for the 2019 G20 Osaka Summit and the G20 Finance Ministers and Central Bank Governors meeting in Fukuoka, Japan. Furthermore, in the immediate aftermath of the Global Financial Crisis, he took part in the first G20 Leaders’ Summit Meeting in his capacity as Executive Assistant to the then Prime Minister Taro Aso. Mr. Asakawa has had frequent engagement with the Organisation for Economic Co-operation and Development, including as Chair of the Committee on Fiscal Affairs from 2011 to 2016. In 2008, he served as the executive assistant to former prime minister Taro Aso.