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☆ Private sector collaboration is essential in the energy transition, says AIIB President
▼ + stars: | 2023-12-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPrivate sector collaboration is essential in the energy transition, says AIIB PresidentThe private sector will be essential in tackling the climate crisis, according to AIIB CEO Jin Liqun. Liqun emphasised the need to attract private investment while also maintaining good dialogue with national governments.

Persons: Jin Liqun, Liqun

☆ African ambassador criticizes IMF, World Bank for not giving enough loans
▼ + stars: | 2023-10-16 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

John Wessels | Afp | Getty ImagesBEIJING — An ambassador of an African country to China has criticized the International Monetary Fund and the World Bank for restrictive lending policies. "The problem is that the ratings we are making for the African [countries] should be different," Ibrahima Sory Sylla, ambassador for the West African country of Senegal, said Thursday at an event at Peking University. The research claimed every 1% increase in Chinese loans resulted in an increase of 0.176% in African economic growth. Allan Joseph Chintedza, ambassador of Malawi to China, said the report should look also at the repayment period for Chinese loans. The East African country needs to provide a "sustainability letter" from the Chinese government in order to borrow more from the IMF, Chintedza added.

Persons: John Wessels, Sylla, Poor's, Senegal's Sylla, Fitch, Wu Peng, Jang Ping Thia, Thia, Vladimir Putin, Allan Joseph Chintedza, Chintedza Organizations: Afp, Getty, BEIJING —, International Monetary Fund, World Bank, West, Peking University, Fitch, IMF, Bank, United, Loans, Boston, Global, Policy Center, CNBC, Asian Infrastructure Investment Bank, Initiative, Peking University's Institute, New Locations: Senegal's, Dakar, BEIJING, China, Senegal, West Africa, Africa, Beijing, Malawi

The Alberta Industrial Heartland, a not-for-profit organization consisting of five Alberta municipalities, and the Hong Kong-based private equity firm Can-China Global Resource Fund (CCGRF) had announced their partnership in 2016 to encourage investments across North America. "This partnership no longer exists," Karlee Conway Director Communications of the Alberta Industrial Heartland said in an email response to Reuters. The lead investor of the fund was China's Export-Import Bank, Vancouver-based mining firm Hunter Dickinson and Swiss commodity trader Mercuria. While all three were released in 2021, the relationship between China and Canada has not returned to normal. The oil-rich province of Alberta exported C$4.5 billion worth of goods to China in 2020, making it the Canadian province's second-biggest export market.

Persons: Karlee, Hunter Dickinson, Lynette Ong, FROSTY, Meng Wanzhou, Divya Rajagopal, Xie Yu, Denny Thomas, Nick Zieminski Organizations: Reuters, The, The Alberta Industrial Heartland, China Global Resource Fund, Karlee Conway, Communications, Alberta Industrial Heartland, China's, Import Bank, MEC Advisory Ltd, EXIM Bank, Science, University of Toronto, CQ Energy, Ottawa, Huawei, Canadian, Exim Bank, Asian Infrastructure Investment Bank, Chinese Communist Party, Thomson Locations: TORONTO, HONG KONG, Alberta, The Alberta, Hong Kong, China, North America, Vancouver, Swiss, Canada, Ottawa, Calgary, Beijing, United States

TORONTO/HONG KONG, June 29 (Reuters) - The Alberta government has ended a partnership with a Chinese private equity fund that targeted $10 billion to invest in the natural resources sector, a spokesperson for the Alberta entity told Reuters. The Alberta Industrial Heartland, a not for profit organization of the province of Alberta, and the Hong Kong-based private equity firm Can-China Global Resource Fund (CCGRF) had announced their partnership in 2016 to encourage investments across North America. "This partnership no longer exists," Karlee Conway Director Communications of the Alberta Industrial Heartland in an email response to Reuters. The lead investor of the fund was China's Export-Import Bank, Vancouver-based mining firm Hunter Dickinson and Swiss commodity trader Mercuria. This month, Canada froze ties with the China-led Asian Infrastructure Investment Bank (AIIB) as it launched a probe into allegations that the institution was dominated by the Chinese Communist Party.

Persons: Karlee, Hunter Dickinson, Meng Wanzhou, Divya Rajagopal, Xie Yu, Denny Thomas, Nick Zieminski Organizations: Reuters, The, The Alberta Industrial Heartland, China Global Resource Fund, Karlee Conway, Communications, Alberta Industrial Heartland, China's, Import Bank, MEC Advisory Ltd, EXIM Bank, CQ Energy, Ottawa, Huawei, Canadian, Exim Bank, Asian Infrastructure Investment Bank, Chinese Communist Party, Thomson Locations: TORONTO, HONG KONG, Alberta, The Alberta, Hong Kong, China, North America, Vancouver, Swiss, Canada, Calgary, Beijing, United States

☆ Creativity needed to fund climate transition, AIIB president says
▼ + stars: | 2023-06-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCreativity needed to fund climate transition, AIIB president saysJin Liqun, president of the Asian Infrastructure Investment Bank, says a coordinated approach to climate funding is needed amid challenging economic conditions.

Persons: Jin Liqun Organizations: Asian Infrastructure Investment Bank

☆ AIIB will investigate claims of Chinese Communist Party control after Canada suspends ties
▼ + stars: | 2023-06-16 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —A Beijing-based multinational lender is launching an internal review after Canada suspended its ties with the regional development bank, citing explosive claims that the Chinese Communist Party had infiltrated the institution. Alexander’s comments Friday were in response to a freeze on activity ordered by Ottawa this week, pending its own review of claims about Chinese government control. She said Canada would discuss the matter with allies and partners, raising the specter of more AIIB members suspending their ties. Alexander told CNN that the AIIB isn’t concerned about losing members, which number 106 including the United Kingdom, Germany and France. “Those are independent people appointed by different constituencies of our members,” Alexander added.

Persons: Hong Kong CNN —, Danny Alexander —, —, Alexander, Bob Pickard, ” Picard, Chrystia Freeland, Pickard, ” Alexander, Picard, Xi Jinping Organizations: Hong Kong CNN, Canada, Chinese Communist Party, Asian Infrastructure Investment Bank, World Bank, UK Treasury, CNN, Communist Party, Canadian Finance, Asian Development Bank Locations: Hong Kong, Beijing, Ottawa, Canadian, Canada, United Kingdom, Germany, France, Washington ,, Japan, United States, China

Bob Pickard, a Canadian national and former global communications chief for the AIIB, announced his resignation in a scathing social media post on Wednesday. The AIIB earlier on Wednesday said it had accepted Pickard's resignation and called his comments "baseless and disappointing. China's foreign ministry and Canada's embassy in China did not immediately respond to requests for comment. China is an important member of the AIIB and has always followed multilateral rules and procedures, the embassy said. The clash marks a new dip in bilateral relations between Canada and China, which have been frosty for the last five years.

Persons: Bob Pickard, Xi Jinping, AIIB, Pickard, I've, Michaels, Chrystia Freedland, Laurie Chen, John Geddie Organizations: Infrastructure Investment Bank, Chinese Communist Party, Canadian, World Bank, Reuters, Communist, Party, Canadian Finance, Ottawa, Beijing, Thomson Locations: BEIJING, Beijing, Ottawa, Canada, Japan, China, China's, Canadian, Shanghai, Toronto, Lincoln

☆ AIIB: Canada freezes ties after Bob Pickard's allegations that bank is 'dominated by' Chinese Communist Party
▼ + stars: | 2023-06-15 | by ( Michelle Toh | ) edition.cnn.com time to read: +4 min

The allegations were made by Bob Pickard, a Canadian citizen who resigned as global head of communications for the Asian Infrastructure Investment Bank (AIIB) earlier this week. But the United Kingdom was first to break ranks, announcing in 2015 that it would apply for membership. Despite initially being seen as a rival to the World Bank, the two institutions have since partnered together, providing joint financing for dozens of projects. In March, AIIB President Jin Liqun met with new World Bank President Ajay Banga in Beijing to discuss deepening ties. Overall, the organization has disclosed $100 billion in capital, with sizable commitments from the United Kingdom, France and Germany and others.

Persons: Bob Pickard, Chrystia Freeland, Pickard, ”, ” Pickard, Xi Jinping, Freeland, “, That’s, Pickard “, China “, Jin Liqun, Ajay Banga Organizations: Hong Kong CNN —, World Bank, Chinese Communist Party, Asian Infrastructure Investment Bank, Canadian, Canadian Finance, Twitter, Communist Party, Asian Development Bank, China Canada, AIIB Locations: Hong Kong, Hong Kong CNN — Canada, Beijing, Canadian, China, United Kingdom, France, Germany, Ottawa, Washington ,, Japan, United States, Canada, Taiwan, Washington

☆ China’s world banks are geopolitical victims
▼ + stars: | 2023-06-15 | by ( Una Galani | ) www.reuters.com time to read: +4 min

MUMBAI, June 15 (Reuters Breakingviews) - China’s “World Bank” tried in vain to carefully thread the geopolitical needle. Fairly or not, critics have lambasted China’s lending practices along the BRI as “debt trap diplomacy”. Whereas the smaller AIIB did things more the way developed countries wanted, even taking positions at odds with Beijing’s. Pickard alleged on Twitter that AIIB was an instrument of China, dominated by Communist party members who “operate like a secret police”. The AIIB said the comments by Pickard, who had served in his role since March 2022, were “baseless and disappointing”.

Persons: Bank ”, Bob Pickard, Jin Liqun, Pickard, AIIB, Chrystia Freeland, Pete Sweeney, Thomas Shum Organizations: Reuters, Bank, Infrastructure Investment Bank, Twitter, Communist Party, World Bank, Initiative, Beijing, International Monetary Fund, New Development Bank, Canadian, Communist, Department of Finance, Finance, Thomson Locations: MUMBAI, Canada, Beijing, India, France, Asia, Africa, Latin America, Argentina, Pakistan, Russia, Ukraine, China, Ottawa, Shanghai, Saudi Arabia

OTTAWA, June 14 (Reuters) - 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. The bank's global communications director, a Canadian, said on Wednesday he had resigned and criticised the bank as "dominated by the Communist Party", allegations which the AIIB said were baseless. Liberal Prime Minister Justin Trudeau was in power when Canada joined the AIIB. The opposition Conservatives have long demanded Ottawa pull out of the bank, saying it is a tool for Beijing to export authoritarianism throughout the Pacific. The Royal Canadian Mounted Police said on Tuesday it was investigating allegations China tried to intimidate a federal Conservative legislator.

Persons: Chrystia Freeland, Freeland, AIIB, Justin Trudeau, David Ljunggren, Jonathan Oatis, Angus MacSwan Organizations: OTTAWA, Asian Infrastructure Investment Bank, Chinese Communist Party , Finance, Communist Party, Department of Finance, Liberal, Canada, Conservatives, Ottawa, Royal Canadian Mounted Police, Conservative, Beijing, Thomson Locations: Canada, China, Ottawa, Beijing

BOAO, China, March 31 (Reuters) - The Asian Infrastructure Investment Bank (AIIB) will stick to its mandate as an apolitical multilateral lender and won't get dragged into political disputes, even as multilateralism is severely tested, its president, Jin Liqun, said on Friday. "But on the other hand, we need to protect the bank in terms of its credit worthiness," he added. As of November, the AIIB had financed 194 projects totalling $37 billion, up from $29 billion in October 2021, according to S&P Global Ratings. "We now have projects in Rwanda, Ecuador, we have projects in central and eastern European countries," he said. Reporting by Joe Cash in Boao Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Our infrastructure investments include health and digital sector: AIIB
▼ + stars: | 2023-03-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOur infrastructure investments include health and digital sector: AIIBJin Liqun of the bank says infrastructure involves more than "traditional roads, railways, airports, seaports."

“All of the members are committed to net zero, particularly many developing countries who certainly have a lot of issues to deal with. But all of them are committed,” Asian Infrastructure Investment Bank (AIIB) President Jin Liqun told CNN’s Becky Anderson in an interview Tuesday at UN climate summit COP27. China is the world’s largest carbon emitter of fossil fuels, but has committed to net zero goals by 2060. He did not mention China’s coal sector, which produces much of the country’s methane emissions, in addition to carbon dioxide emissions. China produces the most methane emissions from coal mines in the world, according to the US Environmental Protection Agency.

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