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Aiib

All articles tagged with #aiib

politics2 years ago•2 min saved

AIIB to cooperate with Canada probe into Chinese Communist Party control allegations.

The Asian Infrastructure Investment Bank (AIIB) is launching an internal review after Canada suspended its ties with the regional development bank, citing claims that the Chinese Communist Party had infiltrated the institution. The allegations were made by Bob Pickard, a Canadian citizen who resigned as global head of communications for the AIIB. The bank said it would cooperate fully with Canada’s inquiry, and undertake its own review. The AIIB has full confidence that the claims will be proven baseless.

via CNN|

#aiib #canada #china

politics2 years ago•3 min saved

Canada cuts ties with AIIB over alleged Chinese Communist Party control.

Canada has frozen ties with the China-led Asian Infrastructure Investment Bank (AIIB) while it investigates claims by a former senior member of staff that the institution is dominated by the Chinese Communist Party. The move comes amid a continued fraying of ties between Ottawa and Beijing. Finance Minister Chrystia Freeland announced the move on Wednesday, after Canadian Bob Pickard, the AIIB’s global communications director, resigned from his job and criticised the bank as “dominated by the Communist Party”. The AIIB rejected Pickard’s criticism as “baseless and disappointing” and said it was proud of a staff representing 65 different nationalities.

via Al Jazeera English|

#aiib #canada #china

politics2 years ago•3 min saved

Controversy Surrounds China-Backed AIIB Bank

Bob Pickard, former global communications chief for the Asian Infrastructure Investment Bank (AIIB), has resigned from the bank and alleged Chinese Communist Party influence. He fled to Japan after resigning and claimed he was advised not to set foot in China anytime soon. Canada has frozen ties with the bank while it investigates the matter. Pickard did not believe the interests of Canada were served by the bank and felt the power of the Communist Party people interfered with their ability to communicate transparently.

via Reuters|

#aiib #canada #china

finance2 years ago•3 min saved

Global Financial Institutions Affected by U.S.-China Tensions.

The Chinese-led Asian Infrastructure Investment Bank (AIIB) has maintained close cooperation with American governmental institutions, financial institutions, and respective businesses despite rising geopolitical tensions between the US and China, according to AIIB President Jin Liqun. The IMF warns that the ongoing tensions between the world's two largest economies could lead to a 2% decline in global output. However, Jin is confident that the AIIB has the necessary checks and balances in place to avoid such a scenario. The AIIB's investment strategy is focused on infrastructure development, including climate change mitigation and adaptation projects. Starting this July, all projects approved by the bank will need to be in alignment with the Paris Agreement on climate change.

via NPR|

#aiib #climate-change #finance