Japan has nominated Takehiko Nakao, its deputy finance minister for international affairs, to become president of the Asian Development Bank.
The Finance Ministry proposed that Nakao succeed current ADB president Haruhiko Kuroda, who has been nominated to become Japan’s next central bank governor and resigned as ADB president effective March 18.
Japan nominates the president of the Manila, Philippines-based regional lender due to its status as the ADB’s biggest donor. Kuroda’s planned departure has raised speculation that China might seek a chance to lead the bank.
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