Canada has announced a freeze in ties with the Asian Infrastructure Investment Bank (AIIB) while investigating allegations that the institution is dominated by the Chinese Communist Party. Finance Minister Chrystia Freeland revealed the decision after a former senior staff member, Bob Pickard, resigned and criticized the bank for being “dominated by the Communist Party.” The AIIB, founded in 2016 to finance infrastructure projects, has 106 member governments. The bank rejected the allegations, while the Chinese embassy in Ottawa called them a “complete lie.” This move further strains the relationship between Canada and China, which has deteriorated since the arrest of a Huawei executive in 2018.

Read more: https://www.aljazeera.com/news/2023/6/15/canada-freezes-ties-with-aiib-after-communist-dominance-claims