Canada Suspends Relations with Chinese Development Bank Over Communist Party Control Allegations

Canada has suspended ties with the Beijing-based Asian Infrastructure Investment Bank (AIIB) over allegations that the Chinese Communist Party has infiltrated the institution. The allegations were made by a Canadian citizen who resigned as global head of communications for the AIIB. The AIIB, which began operations in 2016, was designed to provide investment in infrastructure and regional networks. Canada joined the AIIB in 2018 and has since pledged a total of $995.4 million. The Canadian government has ordered a review of the allegations and has not ruled out any outcome following its completion.