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Aquino receives newly elected ADB president in Malacanang

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ADB President Takehiko Nakao meets Philippine Finance Secretary Cesar Purisima on 3 June 2013. (Photo courtesy of  ADB Philippine Country Office Facebook page)

ADB President Takehiko Nakao meets Philippine Finance Secretary Cesar Purisima on 3 June 2013. (Photo courtesy of ADB Philippine Country Office Facebook page)

President Benigno S. Aquino III received newly elected Asian Development Bank president Takehiko Nakao in Malacanang on Wednesday.

Nakao assumed office as the ninth president of the ADB on April 28. Nakao succeeds Haruhiko Kuroda, who stepped down in March.

Nakao has held several senior positions in the Ministry of Finance of Japan, which he joined in 1978.

Prior to his appointment at ADB, he was vice minister of Finance for International Affairs, where he gained significant experience in international finance and development, and established close ties with Asia-Pacific’s leading figures, as well as those in the international development community.

He holds a Bachelor of Arts in Economics degree from the University of Tokyo, and a Master of Business Administration from the University of California in Berkeley, California.

Nakao said he is looking forward to working with shareholders and ADB’s development partners to continue fighting poverty and sustaining growth in the Asia-Pacific region.

In the Philippines, the ADB has major investments in education, agriculture, energy, finance, health, trade and industry, public sector, as well as transportation and communication.

The ADB approved this year several projects in the Philippines which include employment facilitation for inclusive growth, tourism competitiveness, and a national community-driven development program.

The bank also has proposed projects on climate resiliency and green growth, education improvement, road improvement and institutional development projects and water supply development

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