(ECNS) — China's former Vice Minister of Finance Zou Jiayi on Friday formally took office as president of the Asian Infrastructure Investment Bank (AIIB) and chair of its Board of Directors, according to a statement released by the bank.

Zou will also serve as chair of the bank's Board of Directors. AIIB said she will oversee the institution's efforts to support sustainable infrastructure development and regional connectivity across Asia and other member economies.

In her inaugural address, Zou said the bank is entering a new stage of development with greater responsibilities amid shared global challenges, stressing that effective responses require stronger international cooperation.

She said advancing cooperation and infrastructure investment can contribute to building a better world, adding that the AIIB is well positioned to help turn that vision into reality.

Zou was elected president of the AIIB by the bank's Board of Governors in June 2025. The bank's founding president, Jin Liqun, completed his term on Jan. 15, 2026.

Since commencing operations in 2016, the AIIB has expanded from 57 founding members to 111 members. Over the past decade, it has approved 361 projects with total financing of nearly $70 billion, benefiting 40 members within and beyond Asia.

(By Evelyn)