Germany, as one of the first partners of the Asian Infrastructure Investment Bank (AIIB), has deposited its instrument of ratification of the bank at the Ministry of Foreign Affairs of China, the German embassy in China said on Monday.
Contributing $4.5 billion, Germany will be the fourth largest capital provider for the AIIB globally and the largest one non-regionally.
Germany will partner with the AIIB closely and attentively concerning the fulfillment of its mandate and tasks, which includes compliance with international standards, the embassy said in a statement.
The executive director from Germany at the AIIB will be based in Beijing, added the embassy.
The AIIB, the new international development bank led by China, currently has 57 prospective founding countries.
With authorized capital of $100 billion, the AIIB will invest in sectors including energy, transportation, urban construction and logistics as well as education and healthcare.
The new lender, which will be inaugurated at the end of this year, plans to lend $10 billion to $15 billion a year for the first five or six years, Jin Liqun, the president-designate of the AIIB, said earlier this month.
