Jin Liqun, president and chairman of Asian Infrastructure Investment Bank, addresses the parallel session "Opening-up, Regulation and Business Environment" of the second Hongqiao International Economic Forum in Shanghai, east China, Nov. 5, 2019. (Xinhua/Fang Zhe)

Jin Liqun has been elected to a second term as President of the Asian Infrastructure Investment Bank (AIIB) by the bank's Board of Governors.

The election result was announced by the Chair of AIIB's Board of Governors during the bank's fifth annual meeting on Tuesday.

"It has been a tremendous privilege to lead the Asian Infrastructure Investment Bank during its foundational years," said Jin. "We have established high standards of governance, we are investing in projects that improve lives and livelihoods, and we are establishing ourselves in global capital markets."

Under Jin's leadership, the AIIB has grown from 57 founding members to over 100 approved members from around the world.

The bank has also maintained the highest credit rating with a stable outlook from the largest credit rating agencies, including Standard & Poor's, Moody's, and Fitch. Permanent Observer status was also granted by the United Nations (UN) in recognition of AIIB's relevance and contribution to the UN's development mandate.

"As we look forward to the next decade, we will expand our investments from a core infrastructure to the tomorrow-infrastructure that will tackle climate change, enhance connectivity within Asia and the rest of the world, mobilize private capital, and bridge digital divides in our region," said Jin.

The AIIB is a multilateral development bank with a mission to improve social and economic outcomes in Asia. Headquartered in Beijing, the AIIB began operations in January 2016 and has now grown to more than 100 approved members worldwide.