Members of Germany's Social Democratic Party (SPD) have overwhelmingly approved a coalition agreement with the conservative Christian Democrats (CDU/CSU), paving the way for a new government.

A total of 84.6% of SPD members voted in favor of the coalition deal in an online ballot that concluded last night, public broadcaster ARD reported Wednesday, citing party sources.

The vote had a 56% participation rate, well above the required 20% minimum threshold, making the outcome binding for the party leadership.

SPD Secretary General Matthias Miersch will hold a press conference later today to announce the official results.

Chancellor-designate Friedrich Merz's Christian Democratic Union (CDU) approved the coalition agreement Monday at a special party conference in Berlin.

The CDU's Bavarian sister party, the Christian Social Union (CSU), endorsed the deal earlier this month.

Following the SPD's approval, party leaders are scheduled to sign the coalition agreement next Monday in Berlin.

Parliament will then convene on May 6 to elect Friedrich Merz as chancellor, replacing Olaf Scholz.

The Christian Democrats (CDU/CSU) won 28.5% in February's snap elections but fell short of an outright majority.

Despite the Social Democrats receiving their lowest-ever result at 16.4%, they emerged as a crucial coalition partner.

Together, the parties will control 328 seats in parliament, comfortably exceeding the 316-seat threshold needed for a governing majority.