BEIJING (Sputnik) – According to AIIB procedures, each founding member has until July 31 to nominate a candidate; the appointment will be subject to a vote by the board of directors in late August.
"The Chinese government has officially nominated Jin Liqun as a candidate for the Asian Investment Bank’s presidency," Hua Chunying said at a briefing.
The spokeswoman hailed Jin’s "extensive experience in leading and managing government and international organizations as well as private companies."
Jin Liqun used to work at the World Bank and as vice-president of the Asian Development Bank. He was appointed AIIB’s secretary general of the Multilateral Interim Secretariat last October.
The three major shareholders of the AIIB are China with 30.3 percent, India with 8.5 percent and Russia with 6.7 percent of the bank’s shares, with voting-rights apportioned in roughly the same way.
The AIIB, a China-led financial institution, was set up primarily to invest in infrastructure projects in the Asia-Pacific Region. The AIIB is expected to start operating by the end of 2015.
