The Asian Infrastructure Investment Bank (AIIB) has opened the nomination process for the election of its next President. The election will take place during the rescheduled fifth Annual Meeting of the Board of Governors. Due to the COVID-19 pandemic, the Bank has decided the meeting will now be held virtually on Tuesday, July 28, 2020.
This election will choose the President to serve the five-year term starting in January 2021. Candidates, who will be elected by the Board of Governors, must be a national of one of AIIB’s regional members and able to demonstrate, among other requirements, a track record of executive leadership, impeccable integrity, and familiarity with infrastructure and international development challenges, particularly in Asia. Nominations are accepted from members of the AIIB Board of Governors until June 18, 2020, 6:00 p.m.
“As a result of the COVID-19 pandemic, our Annual Meeting this year – and the election of the President – will have to be held virtually,” said AIIB’s Vice President and Corporate Secretary Sir Danny Alexander. “The rules and procedures put in place by AIIB’s Board of Governors provide for an open, transparent and merit-based process and we will ensure a well-run election that reflects the AIIB’s high standards of governance.”
The AIIB Rules for the Election of the President were adopted by the Board of Governors in December 2019 after review by the Board of Directors. They are publicly available on the AIIB website in line with its Policy on Public Information and commitment to transparency.
The presidential candidate receiving an affirmative vote of two-thirds of the total number of Governors, representing not less than three-fourths of the total voting power of the members shall be declared the next President of AIIB. The election result will be announced by the Chair of the Board of Governors after the vote during the 2020 AIIB Annual Meeting. The five-year term of the newly elected President shall commence on Jan. 16, 2021.
This is AIIB’s second presidential election. Jin Liqun began his term as AIIB’s first President on Jan. 16, 2016, after being elected President-designate on Aug. 24, 2015.
About AIIB
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank with a mission to improve social and economic outcomes in Asia. Headquartered in Beijing, we began operations in January 2016 and have now grown to 102 approved members worldwide. By investing in sustainable infrastructure and other productive sectors in Asia and beyond, we will better connect people, services and markets that over time will impact the lives of billions and build a better future.
