Zou Jiayi was elected as the next president of the Asian Infrastructure Investment Bank (AIIB) on Tuesday.

At a special session of the bank's board of governors during the Tenth Annual Meeting of the Board of Governors of the AIIB, Zou Jiayi, a Chinese candidate, was successfully elected as the multilateral development bank's next president, the China's Ministry of Finance (MOF) said in a statement on Tuesday.

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Zou will take office in January 2026, with a term of five years, the statement said. Founding President Jin Liqun will complete his second term on January 15, 2026.

The AIIB is a multilateral development bank dedicated to financing "infrastructure for tomorrow," with sustainability at its core. Launched in 2016, the AIIB now has 110 approved members worldwide, according to the bank's official website.

With Xinhua inputs