(Yicai Global) July 29 -- Jin Liqun, China’s former deputy minister of finance, will continue serving the Asian Infrastructure Investment Bank as its president.

The board of governors re-elected Jin to lead the multilateral development bank, with the next term starting from Jan. 16, 2021, the AIIB said in a statement yesterday. Jin became China's deputy minister of finance in 1998.

China is the AIIB's largest shareholder, holding a 30 percent stake. It also has nearly 27 percent of the voting rights.

The AIIB will expand its investment in future infrastructure that will tackle climate change and enhance connectivity within Asia and beyond, said Jin.

Since Jin started in his role in 2016, the lender's number of global members has grown to more than 100 from 57. Established in December 2015, the AIIB has approved nearly 90 loans with a total sum of USD19.6 billion.

Editor: Emmi Laine