Jin Liqun (R), president of Asian Infrastructure Investment Bank (AIIB), and Pierre Gramegna, minister of finance of Luxembourg, attend a joint press conference during the fourth annual meeting of the AIIB in Luxembourg, July 12, 2019. (Photo: Xinhua)

The China-initiated Asian Infrastructure Investment Bank (AIIB) on Saturday approved the membership of Benin, Djibouti and Rwanda, bringing AIIB's total approved membership to 100.

The decision was made unanimously by AIIB's Board of Governors at its fourth annual meeting held in Luxembourg.

The three prospective non-regional members will officially join AIIB once they complete the required domestic processes and deposit the first capital installment with the Bank.

"AIIB members collectively account for 78 percent of the world's population and 63 percent of global GDP. With the backing of all of our members, we are building a lean, clean, and green institution that can help to support their sustainable development," said AIIB President Jin Liqun.

Under the theme "Cooperation and Connectivity," the fourth annual meeting of AIIB kicked off in Luxembourg on Friday, for the first time outside Asia, drawing over 1,000 AIIB officials, representatives from members and partner institutions, business leaders and experts.

The AIIB, a multilateral development bank investing in sustainable infrastructure and other productive sectors in Asia and beyond, began operations in January 2016.