Australia will inject about 930 million AUD (718 million USD) to the Asian Infrastructure Investment Bank (AIIB) within the next five years, which makes Australia the sixth largest shareholder of the bank, according to a statement from Australian Treasurer Joe Hockey and Minister for Foreign Affairs Julie Bishop on June 24, 2015.

Joining the AIIB will bring great opportunities to Australia. Australia will work with its biggest trade partner China as well as other Asian countries to promote economic development and creating more jobs. Australia expects to lay a solid foundation for this effective and multilateral mechanism with other member countries, said the statement.

According to Australian media report, Joe Hockey will attend the signing ceremony of the charter of the AIIB to be held in Beijing on June 29.