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☆ 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

☆ 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

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

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