ADB President Receives Order of Sikatuna from Philippine President Marcos

Source: www.gulfoilandgas.com 1/23/2025, Location: Asia

Philippine President Ferdinand R. Marcos Jr. today conferred the Order of Sikatuna, with the rank of Grand Cross, Gold Distinction, on outgoing Asian Development Bank (ADB) President Masatsugu Asakawa during a ceremony at Malacañang Palace.

“I thank President Asakawa for all of the help that he has brought to the country,” said Mr. Marcos. “ADB’s support over the last 5 years has been of particular significance. Not only the financing, but the areas of support have been on point. ADB has been at the forefront of all foreign assisted projects in the country, and it has accelerated and widened its involvement in all aspects of national development.”

The Order of Sikatuna is the Philippines’ national order of diplomatic merit, established in 1953 to recognize individuals who have rendered exceptional services in promoting the country’s interests and international relations.

“I am grateful for this honor from President Marcos and the Filipino people,” said Mr. Asakawa. “ADB’s work in the Philippines, our host country since 1966, reflects our shared commitment to building a prosperous and sustainable future for all Filipinos. I am especially proud of the scope and scale of our engagement, and I am pleased that our trusted partnership makes it possible to work together in lockstep to identify and address the country’s key development needs.”

During Mr. Asakawa’s tenure, ADB significantly expanded its support for the Philippines. Financing assistance has averaged over $3 billion annually, including flagship projects such as the South Commuter Railway, the Bataan–Cavite Interlink Bridge, and the Laguna Lakeshore Road Network. Under his leadership, ADB also provided over $5 billion in pandemic-related assistance to the Philippines, encompassing health system strengthening, vaccine procurement, and economic recovery initiatives.

ADB deepened its support for the Philippines’ climate action agenda, including $750 million through the Climate Change Action Program, alongside initiatives to scale up support for renewable energy, nature-based solutions, and disaster resilience.

Mr. Asakawa, who assumed office as ADB President on 17 January 2020, will step down on 23 February 2025. He will be succeeded by Masato Kanda, Special Advisor to the Cabinet and the Ministry of Finance in Japan.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 69 members—49 from the region.


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