Indo-Canadian to head ADB

Nag is currently director general of ADB's Southeast Asia Department and is special advisor to the ADB president, on regional economic co-operation.

The Asian Development Bank (ADB) Tuesday appointed Rajat M. Nag, a Canadian of Indian origin, as its new managing director general.

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Nag is currently director general of ADB's Southeast Asia Department and he is also the special advisor to the ADB president on regional economic cooperation and integration. Nag will take over from Young-Hoi Lee whose term ends Dec 14.

Nag, who has over 30 years of experience, joined ADB in 1986 as project economist in the agriculture department.

He was assigned to ADB's Nepal Resident Mission from 1991 to 1994 and held various senior positions in the bank's Programs Department (West) and in the Financial Sector and Industry Division, Infrastructure Department (West).