President Ferdinand R. Marcos Jr. extended his well wishes on Thursday to Asian Development Bank (ADB) President Masatsugu Asakawa, who announced his intention to step down from his post in February next year.
In his speech during the launch and ceremonial turnover of the ADB Philippines Country Partnership Strategy (CPS) 2024-2029 at Malacañan Palace, President Marcos said he is saddened by Masatsugu’s decision.
“But I am very confident that the good work that you have started in your time that you have been here, that we will be able to continue on the basis of the foundations that you have laid in the time that you have spent here in the Philippines,” President Marcos said.
“And we thank you for all of the help that you have brought to the Philippines, all the support that through you ADB has given to the Philippines in many, many ways. And we wish you the best in all your future endeavors,” he added.
Masatsugu told President Marcos and the Cabinet members that he is honored to witness the launch of the CPS 2024-2029 for the Philippines at Malacañan Palace, where he officially announced his intention to step down from his post, effective next year.
“It has been a profound privilege to serve in this role, and I am deeply grateful for the unwavering support of the government and the people of the Philippines throughout my tenure of five years. ADB’s partnership with the Philippines is long-standing and deeply valued,” Masatsugu said.
The ADB official highlighted the significant connection between the Philippines and the ADB, especially in terms of its development agenda. He also assured President Marcos of the ADB’s continued commitment despite the change in leadership.
Masatsugu said the ADB will particularly accelerate connections with the Philippines in terms of infrastructure projects and climate actions, enhancing President Marcos’ vision for a more competitive and more resilient Philippines.
He added that the ADB will help the Philippines accelerate its climate action through the US$10 billion climate finance over the next six years and will continue to deliver world-class infrastructure projects that drive growth and competitiveness.
Masatsugu said the ADB will also continue to support the administration’s efforts to improve education and social protection, among others.
“I want to re-affirm ADB’s strong commitment to supporting the Philippines’ economic and social transformation through our new Country Partnership Strategy. Meeting on our shared successes, I am confident that together we will achieve remarkable progress in this new chapter of our partnership,” he said.
The ADB was established in 1966 with 68 members, including the Philippines. PND
