Close X
Thursday, November 28, 2024
ADVT 
National

Canada halts activity at Asian development bank, looks to review its membership

Darpan News Desk The Canadian Press, 14 Jun, 2023 02:50 PM
  • Canada halts activity at Asian development bank, looks to review its membership

Finance Minister Chrystia Freeland announced Wednesday that Canada will halt all government-led activity at the Asian Infrastructure Investment Bank after a Canadian citizen tendered his resignation from the financial institution. 

Bob Pickard said in a tweet Wednesday that he resigned as the bank's global communications chief because the bank is "dominated" by members of the Chinese Communist Party. 

"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 on Wednesday. 

The finance minister said the review would be conducted "expeditiously" and that she wasn't ruling out any outcome following its completion. 

In a statement, the AIIB called Pickard's allegations "categorically false."

"We are an independent multilateral development bank guided by our board of governors and board of directors, and no one state or political party has any say over the strategic or operational direction of the bank," the statement said. 

China founded the US$100-billion Asian Infrastructure Investment Bank in late 2015 to provide other countries in the region access to capital for investments in projects in areas such as transportation, power and telecommunications.

Canada joined the bank in 2017 and holds less than one per cent of the voting power, in contrast with China, which holds more than a quarter of the voting power. 

According to the AIIB's website, the development bank had 103 members from within and outside of the region by the end of 2020. That included many western countries, such as the United Kingdom, France and Germany.

MORE National ARTICLES

How to stay healthy as wildfire smoke spreads across large swaths of Canada

How to stay healthy as wildfire smoke spreads across large swaths of Canada
As wildfires continue to rage in parts of Western and Central Canada, the smoke is blanketing cities and communities far away from the blazes and triggering air quality alerts. In B.C., the Central Fraser Valley was designated "moderate risk". Here's what this all means for you and how to stay safe.  

How to stay healthy as wildfire smoke spreads across large swaths of Canada

BC Ferries wants to spend millions on better infrastructure

BC Ferries wants to spend millions on better infrastructure
An application to the British Columbia Ferries Commissioner says the proposed plan includes upgraded kiosks, fare gates and boarding pass validators for foot passengers and an express lane check-in for reserved customers. If approved, the changes would be implemented over four years.

BC Ferries wants to spend millions on better infrastructure

Showers likely for southern B.C., as wildfires cut air quality, challenge control

Showers likely for southern B.C., as wildfires cut air quality, challenge control
A shift in weather could cut the smoke and the weather office says showers are likely across the lower quarter of the province on Friday, possibly bringing as much as 10 millimetres of rain to the Squamish, Sechelt, Metro Vancouver and Fraser Valley regions before weekend sun and heat return.  

Showers likely for southern B.C., as wildfires cut air quality, challenge control

Patients, staff struggle over 'chronic issues' at Surrey, B.C., hospital: minister

Patients, staff struggle over 'chronic issues' at Surrey, B.C., hospital: minister
Adrian Dix said Wednesday the ongoing patient and staffing issues at Surrey Memorial Hospital have created a stressful atmosphere, prompting the government to implement an immediate and long-term expansion plan in an attempt to ease tensions. 

Patients, staff struggle over 'chronic issues' at Surrey, B.C., hospital: minister

Surrey wanted man arrested

Surrey wanted man arrested
A 22-year-old man who was wanted by R-C-M-P in Surrey has been arrested. Mounties say Kwabena Bosiako was taken into custody this morning in New Westminster.

Surrey wanted man arrested

Senior punched in the face in an unprovoked assault: Coquitlam RCMP

Senior punched in the face in an unprovoked assault: Coquitlam RCMP
Police are asking for the public's help in finding a suspect who seriously injured an 85-year-old man in an unprovoked assault in Coquitlam. The Mounties say the suspect dropped the leashes and the dogs ran toward the victim before the suspect approached the man and punched him in the face.  

Senior punched in the face in an unprovoked assault: Coquitlam RCMP