AKIPRESS.COM - The Asian Development Bank (ADB) has appointed Indu Bhushan as the new Director General for its East Asia Department (EARD), ADB said.

As Director General, Mr. Bhushan will lead ADB’s engagement with the People's Republic of China (PRC); Hong Kong, China; Republic of Korea; Mongolia; and Taipei,China, including the management of a $12.6 billion portfolio, comprising 113 projects. He will oversee the work of five sector divisions in ADB’s headquarters in Manila, covering energy, environment, natural resources and agriculture, transport, public management, financial sector and regional cooperation, urban and social development. He will also supervise ADB’s resident missions in the PRC and Mongolia.

“East Asia undoubtedly has become a global economic powerhouse, lifting hundreds of millions of people out of poverty,” said Mr. Bhushan. “ADB will continue to work closely with development partners to make sure that growth benefit as many people as possible in the PRC and Mongolia, as well as the rest of Asia. East Asia is also crucial to the success of the Paris Climate Agreement, on which ADB will place the highest importance in the challenging years ahead.”

Prior to his appointment to EARD, Mr. Bhushan was Director General of the Strategy and Policy Department, which leads the preparation and coordination of ADB’s corporate strategy and policies, resource mobilization and allocation, and results management. He has been with ADB since 1997. Mr. Bhushan holds a Ph.D. in Economics and Master of Health Sciences from Johns Hopkins University in Baltimore.

Mr. Bhushan replaces the outgoing Director General Ayumi Konishi, who had served in the East Asia Department since 2013 and is currently a Special Senior Advisor to ADB President Takehiko Nakao.

ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB is celebrating 50 years of development partnership in the region. It is owned by 67 members—48 from the region. In 2016, ADB assistance totaled $31.7 billion, including $14 billion in cofinancing.