New President of Asian Infrastructure Investment Bank

• China's former vice finance minister Zhou Jiayi has been appointed the next president of the Asian Infrastructure Investment Bank.

• The five-year term will begin in January 2026 when she will replace founding chief Jin Liqun.

• Zou thus becomes the second president of the AIIB and its first female leader.

• The AIIB was founded by Xi in 2016 as a Chinese alternative to the World Bank and other Western-led multilateral lending institutions.

• It has 110 members across the world, including India, Russia, Germany and the UK.