BEIJING, May 20 (Xinhua) -- The Asian Infrastructure Investment Bank (AIIB) has launched the nomination process for its next president this week and the nominations will be accepted until June 18.
According to the AIIB's articles of agreement, its president should be a national of a regional member. The candidates should be able to demonstrate a track record of executive leadership, impeccable integrity and familiarity with infrastructure and international development challenges particularly in Asia, the bank said in an online statement released on Tuesday.
The election will take place at the fifth annual meeting of the bank's board of governors to be held on July 28 this year and will be conducted through an open, transparent and merit-based process, said the bank.
"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 newly-elected president will serve a five-year term starting on Jan. 16, 2021.
China has officially nominated Jin Liqun, the incumbent AIIB president, as the Chinese candidate for the second AIIB president, the country's Ministry of Finance announced on Tuesday.
Jin, born in 1949, was elected as the inaugural president of the AIIB for a term of five years when the multilateral bank started operation in 2016. Enditem