Asian Infrastructure Investment Bank Holds Tenth Annual Meeting

July 4—The Asian Infrastructure Investment Bank (AIIB) held its 10th annual meeting from June 24-26, electing China’s former Vice Minister of Finance Zou Jiayi as the new head of the bank. Zou has previously represented China as an Alternate Governor at the World Bank, the Asian Development Bank, and the BRICS' New Development Bank. At the World Bank, she was executive director for China. She replaces Jin Liqun, the inaugural president who has headed the bank for the two five-year terms since its inception.

The AIIB has approved more than $60 billion in financing for 318 projects in the past decade, mobilizing more than $200 billion in total capital and benefiting 38 member economies, primarily in Asia, although there are contracts with Brazil, Qatar and others. The African Development Bank and the AIIB have now signed a new memorandum of understanding to strengthen their cooperation in favor of sustainable economic development in Africa. The announcement was made in a statement released June 30.

The 2026 summit of the AIIB will be held in Qatar.