MANILA, PHILIPPINES – As a result of the nomination by the Cabinet of Japanese Prime Minister Shinzo Abe of Asian Development Bank (ADB) President Haruhiko Kuroda as governor of the Bank of Japan, ADB announced today that Mr. Kuroda has submitted his resignation from ADB, effective March 18, 2013. An election of a successor to complete Mr. Kuroda’s term will be held by the Board of Governors of ADB in accordance with ADB’s Charter.
“I have been deeply honored to have served as ADB President and Chairperson of ADB’s Board of Directors,” Mr. Kuroda said. “I have also been privileged to have worked with an exceptionally strong and committed Board and talented and dedicated staff. I have every confidence in the continued success of ADB in the pursuit of its critical mission to alleviate poverty.”
Mr. Kuroda is a graduate of Tokyo University and the University of Oxford, and previously served as Japan’s Vice Minister of Finance for International Affairs. Mr. Kuroda serves simultaneously as President of ADB and Chairperson of ADB’s Board of Directors. He was first elected by ADB’s Board of Governors in November 2004 and assumed office in February 2005. He was reelected for a third term in November 2011. Mr. Kuroda’s nomination to the Bank of Japan is subject to the approval of both houses of Japan’s Parliament.
President Kuroda’s Farewell Message to ADB Staff:
Dear Colleagues,
I have been deeply honored and privileged to serve as ADB President and Chairperson of its Board of Directors for more than eight years. As I prepare to depart ADB, I want to thank all the people that comprise the ADB community for providing me with the greatest working environment imaginable.
Our community draws from the talents of our 67 members around the world and unites us in a common and critical mission of sustainable economic development and poverty alleviation in Asia and the Pacific. Together, we have faced enormous challenges. But our successes are many and our progress has been remarkable. Yet the challenges of development in our region remain, and it will be incumbent upon you to continue our mission under a new leadership with the same vigorous energy, enthusiasm and skill that you have shown during my tenure.
I leave ADB with sadness to be separating from such great people, but also with great pride in our accomplishments. My heartfelt gratitude goes out to everyone at ADB who worked so hard to build on ADB's decades of achievement.
The mission of ADB remains as important today as it was on the day of its founding, and I have every confidence in ADB's continuing and ultimate success.
With gratitude and best wishes,
Haruhiko Kuroda