Zou Jiayi: Leading the AIIB Toward Global Expansion

Zou Jiayi, a former Chinese vice finance minister, is set to become the president of the Asian Infrastructure Investment Bank (AIIB). The Chinese finance ministry announced that she will assume this role in January, succeeding Jin Liqun, for a five-year term. As the first female president of AIIB, she brings significant experience to the position.

Jin Liqun, the outgoing president, played a pivotal role in shaping AIIB into an integral part of President Xi Jinping's 'Belt and Road' initiative. Despite facing allegations of undue influence by the Chinese Communist Party, which AIIB has denied, Jin's leadership has left a notable impact on the institution.

AIIB, founded in 2016 as an alternative to Western-led institutions, now boasts 110 global members, including nations such as India, Russia, Germany, and Britain. Diplomats expect Zou Jiayi to synchronize AIIB with major development spenders like the U.S. and Japan. Reports suggest plans to establish additional offices in Hong Kong, Singapore, and London, complementing the existing one in Abu Dhabi.

(With inputs from agencies.)