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Former Asian Development Bank President Kimimasa Tarumizu died of heart failure Saturday, his family said Monday. He was 78.

Tarumizu served as the fifth ADB president from November 1989 to November 1993 and led the bank to boost its lending commitments to almost $5 billion.

Joining the Finance Ministry in 1953, Tarumizu held such posts as chief of Tokyo Customs before heading the Manila-based ADB.

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