Reported by: banking|Updated: July 31, 2020
The Board of Governors of the Asian Infrastructure Investment Bank (AIIB) elected Jin Liqun for a second term as President. His second five-year term will begin 16 January 2021. Under his leadership, AIIB has grown from 57 founding members to over 100 approved members from around the world. The bank has also maintained the highest credit ratings with a stable outlook from the largest credit rating agencies – Standard & Poor’s, Moody’s and Fitch. It has also been given Permanent Observer status at the United Nations (UN) in recognition of its relevance and contribution to the UN’s development mandate. The bank has so far approved up to USD 19.6 billion for 87 projects in 24 economies. AIIB now has 19 approved members from Africa. The Board of Governors also approved the United Arab Emirates to host the 2021 AIIB Annual Meeting, which will take place October 27-28, 2021 in Dubai.