Asian Infrastructure Bank says it has 'nothing to hide' as Canada probes China's influence
The Asian Infrastructure Investment Bank said it welcomed an investigation by the Canadian government into allegations that the institution faces interference from the Chinese Communist Party.
The review is a “relatively modest and appropriate step,” AIIB vice president and corporate secretary Ludger Schuknecht said Thursday in an interview. “We welcome this review by Canada, because it will mean transparency, and we have nothing to hide.”
On Wednesday, Prime Minister Justin Trudeau’s government froze Canada’s activity with the bank, which is headquartered in Bejing, while it carries out a review of the alleged party influence that drove a Canadian executive to resign and flee the country.
The bank’s former director of communications, Bob Pickard, announced on Twitter earlier Wednesday that he had left his position because the bank was “dominated by Communist Party members.” He added that he had left the country over fears for his safety if he remained in China.
The AIIB immediately pushed back on Pickard’s accusations, calling them “baseless and disappointing” in a written statement.
“We are fully co-operating on this review and happy to share the things that Canada would like to know from us,” Schuknecht told Bloomberg News, saying the bank was in contact with the Canadian side on a regular basis.
Schuknecht said he was not aware of any current or former employees raising similar concerns over the operations of the bank. He added that he only found out about Pickard’s allegations when they were posted on Twitter.
The AIIB was established in 2016 with the goal of “investing in sustainable infrastructure in Asia and beyond,” according to its website. It says it has so far invested in 221 projects worth US$42 billion.
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