Germany, as one of the first partners of the Asian Infrastructure Investment Bank (AIIB), hasdeposited its instrument of ratification of the bank at the Ministry of Foreign Affairs of China, theGerman embassy in China said on Monday.
Contributing $4.5 billion, Germany will be the fourth largest capital provider for the AIIB globallyand the largest one non-regionally.
Germany will partner with the AIIB closely and attentively concerning the fulfillment of its mandateand tasks, which includes compliance with international standards, the embassy said in astatement.
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 prospectivefounding 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 $15billion a year for the first five or six years, Jin Liqun, the president-designate of the AIIB, saidearlier this month.
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