Canada freezes ties with China-led AIIB, probes allegations of Communist domination
Ottawa: Canada is freezing ties with the China-led Asian Infrastructure Investment Bank (AIIB) while it probes allegations it is dominated by the Chinese Communist Party, Finance Minister Chrystia Freeland said on Wednesday.
Freeland said she did not rule out any outcome of the investigation, a clear hint that Ottawa could pull out of a bank it officially joined in March 2018.
The bank’s global communications director, a Canadian, said on Wednesday he had resigned and criticized the bank as “dominated by the Communist Party”, allegations which the AIIB said were baseless and disappointing.
“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,” Freeland told reporters.