New Delhi: Philippine President Ferdinand Marcos Jr. awarded the Order of Sikatuna, Grand Cross, Gold Distinction, to outgoing Asian Development Bank President Masatsugu Asakawa in Malacañang Palace. The conferment recognized Asakawa’s contributions to the Philippines’ development, the ADB said in a press statement.
President Marcos expressed gratitude for ADB’s support over the past five years, highlighting its significance in national development. He cited ADB’s assistance in various sectors, including financing flagship projects like the South Commuter Railway, the Bataan–Cavite Interlink Bridge, and the Laguna Lakeshore Road Network.
The Order of Sikatuna, established in 1953, is the Philippines’ highest diplomatic honor, recognizing individuals for their service in promoting the country’s interests and international relations.
Asakawa expressed his gratitude for the honor and highlighted the strong partnership between ADB and the Philippines, which has facilitated collaborative efforts in addressing key development needs.
During Asakawa’s tenure, ADB’s support for the Philippines expanded significantly, with an average annual financing assistance of over $3 billion. This was in addition to crucial aid during the pandemic, amounting to over $5 billion, focusing on health system strengthening, vaccine procurement, and economic recovery.
ADB also played a vital role in advancing the Philippines’ climate action agenda, providing $750 million through the Climate Change Action Program and supporting initiatives in renewable energy, nature-based solutions, and disaster resilience.
Asakawa, who assumed office as ADB President on January 17, 2020, will conclude his term on February 23, 2025. Masato Kanda, Special Advisor to the Cabinet and the Ministry of Finance in Japan, will succeed him.