Treasurer Joe Hockey will formally sign up to the $US100 billion ($A129.27 billion) Asian Infrastructure Investment Bank on Monday, in what he believes will create opportunities for Australia,
Mr Hockey flew on Sunday to Beijing, where Australia and other countries will become foundation members of a bank tasked with making up an estimated $US8 trillion ($A10.34 trillion) infrastructure shortfall in Asia over the next 10 years.
Australia will contribute about $A930 million as upfront capital to the bank over five years and be the sixth-largest shareholder.
Mr Hockey said last week that after intense negotiations the government had been able to clear up its outstanding concerns over the structure of the China-based bank and was satisfied that governance arrangements would ensure there was appropriate transparency and accountability.
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