Canada has decided to suspend its involvement with the China-led Asian Infrastructure Investment Bank (AIIB) while conducting an investigation into allegations of Chinese Communist Party dominance, according to Finance Minister Chrystia Freeland. This investigation raises the possibility of Canada withdrawing from the bank, which it joined in March 2018. Despite the AIIB dismissing the allegations as baseless, the bank’s global communications director, a Canadian, resigned and criticized the bank. The Chinese embassy in Ottawa has not yet commented on the matter.
“The Government of Canada will immediately halt all government-led activity at the bank. And I have instructed the Department of Finance to lead an immediate review of the allegations raised and of Canada’s involvement in the AIIB,” stated Freeland. She emphasized the need for democratic nations to understand how authoritarian regimes exert influence and stated that the review would be conducted swiftly, with no predetermined outcome.
The Chinese embassy in Ottawa did not immediately respond to a request for comment.
During the tenure of Liberal Prime Minister Justin Trudeau, Canada joined the AIIB. However, the opposition Conservatives have long called for Canada’s withdrawal,
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