China's former Vice Finance Minister Zou Jiayi is AIIB's new President

Beijing, Jun 24 (PTI) China's former Vice Finance Minister Zou Jiayi was on Tuesday named as the next president of the Asian Infrastructure Investment Bank (AIIB) here.

The AIIB Board of Governors chair during the 10th Annual Meeting of the Board of Governors said Zou would succeed the Beijing-headquartered multilateral development bank's founding President Jin Liqun.

According to the bank's official data, China is the largest shareholder of the AIIB, with 26.54 per cent voting shares.

India is the second-largest shareholder with 7.58 per cent, followed by Russia with 5.9 per cent and Germany with 4.1 per cent.

Former finance secretary and CEO of Aadhaar, Ajay Bhushan Pandey, one of the vice presidents of the bank, in an interview with PTI videos here, paid rich tributes to the leadership provided by Jin and said he united 110 countries to create the institution that served the global public good.

Pandey said Jin's was an extraordinary contribution in a divided world.

Zou's five-year term will begin on January 16, 2026, a day after Jin concludes his second five-year term.

Zou has been instrumental in China's engagement with major international financial institutions, the state-run Xinhua news agency reported.

Her experience spans organisations such as the World Bank Group, the Asian Development Bank and the New Development Bank.

The AIIB is a multilateral development bank dedicated to financing "infrastructure for tomorrow", with sustainability at its core.

Having started operations in 2016, the AIIB has 110 approved members worldwide. PTI KJV PY PY PY