Jin Liqun has been re-elected to a second term as president of the AIIB by the bank's Board of Governors on Tuesday. Jin's second five-year term will begin on January 16, 2021.

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.

During the past four years, the number of the AIIB members has expanded from the initial 57 to 103, covering Asia, Europe, North America, South America, Africa and Oceania.

The bank has approved 87 projects, with a total commitment of $19.6 billion, covering energy, transportation, finance, water and urban sectors.

According to the AIIB's articles of agreement, its president should be a national of a regional member.