BIZ BUZZ: Meet Philippines’ new ADB rep
Economist Rolando Tungpalan, Ralph Recto’s handpicked finance undersecretary for corporate sector and strategic infrastructure group, has left the Department of Finance (DOF).
But shed no tears, as he took on Dec. 1 a plum post that many homegrown technocrats could only dream of.
Tungpalan is now the Filipino voice at multilateral lender Asian Development Bank (ADB).
He also assumed the post of alternate executive director for Kazakhstan, Maldives, Marshall Islands, Mongolia, Pakistan and Timor-Leste, aside from the Philippines.
He took over the seat of country representative vacated by fellow economist Charlotte Justine Diokno-Sicat.
The daughter of former budget and finance secretary and ex-Bangko Sentral ng Pilipinas Governor Benjamin Diokno assumed the post in 2022.
This senior position is highly sought-after because of the strategic influence and access to regional players attached to it—aside from the hefty remuneration and benefits that match expat status.
It’s an opportunity to assert the Philippines’ soft power in regional and global forums.
There’s no fixed term: one serves at the pleasure of the President.
An appointee can stay for a few months or as long as the remaining term of the incumbent.
Alejandro Melchor had served during most of Marcos Sr. regime (when ADB was persuaded to choose this country as location for its head office), as did Joker Arroyo during the entire Cory Aquino presidency.
What has Tungpalan done to deserve this post?
Before joining former Recto (who has recently become the “Little President” or Marcos’ executive secretary) at the DOF, he had been an undersecretary at the National Economic and Development Authority (now called Department of Economy, Planning and Development in the Philippines), handling investment programming.
He chaired the Investment Coordination Committee—Technical Board, which was responsible for approving public sector (and public-private sector) investments, as well as the Infrastructure Committee-Technical Board.
Tungpalan is thus no stranger to the multilateral world.
He previously served as main government counterpart to multilateral and bilateral international development agencies for the formulation, programming and monitoring and evaluation of country assistance strategies and programs.
He holds an economics degree from the University of the Philippines and a master of arts degree in economic research from the University of Asia and the Pacific.
Among other notable personalities who previously represented the Philippines at the ADB were Paul Dominguez, Gaudencio Hernandez, Marita Magpili Jimenez, Cayetano Paderanga Jr., Patricia Zamora Riingen, Romeo Bernardo and Vicente Jayme.
