LUXEMBOURG, July 15 (Xinhua) -- The Asian Infrastructure Investment Bank (AIIB) builds on sustainable development principle and pursues shared benefits, the AIIB president told Xinhua recently.

The newly-established multilateral bank embarks on sustainable development, and the unswerving support of China, a major AIIB shareholder, for the Paris Agreement on climate change is great encouragement for the institution, AIIB President Jin Liqun said.

The AIIB has always been pursuing sustainable development. From its practice, people can tell that China is a responsible country, which strives "not just for its own benefits, but also for the world's development," Jin said.

"It won't be easy to fulfill everyone's expectations, but I have full confidence," he added.

Jin made the remarks after the fourth annual meeting of the AIIB's Board of Governors was concluded in Luxembourg on Saturday. During the meeting, the AIIB expanded its membership to 100 with the approval of the African newcomers of Benin, Djibouti and Rwanda.

The China-initiated multilateral financial institution began operation in January 2016 with 57 founding members, with an agenda focused on supporting sustainable development through infrastructure and other productive sectors in Asia and beyond.