Financial News

AIIB announces Jin Liqun as the development bank’s new head

By Business & Finance
25 August 2015
Jin Liqun
Jin Linqun, president designate, AIIB

Jin Liqun has been selected by consensus as president designate of the Asian Infrastructure Investment Bank (AIIB), a multilateral development bank.

Jin has been deeply engaged in international financial and economic affairs throughout his career, serving as vice minister of finance in China, and working with a number of bilateral and multilateral economic and financial forums.

He previously served as chairman of the supervisory board of the China Investment Corporation and as chairman of investment bank, China International Capital Corporation. He also served as vice president of the Asian Development Bank and as alternative executive director for China at the World Bank.

The newly formed AIIB, which will be located in Beijing, will be a new multilateral financial institution designed to provide financial support for infrastructure development and regional connectivity in Asia.

The Bank will aim to foster sustainable economic development, create wealth and improve infrastructure connectivity in Asia by investing in infrastructure and other productive sectors.

It will also promote regional cooperation and partnership in addressing development challenges by working in close collaboration with other multilateral and bilateral development institutions.