Bart Édes is a former director at the Asian Development Bank. He now serves as a professor of practice at the Institute for the Study of International Development, McGill University, and a distinguished fellow at the Asia Pacific Foundation of Canada.
On first glance, this is concerning. We don’t know if the Ministry of Finance’s review will find deeply worrying truths about AIIB that have somehow been kept under wraps. But we do know that Canada benefits from AIIB membership. So it is not news that the Communist Party of China, which governs AIIB’s largest shareholder, exerts influence at the bank.
AIIB’s senior leadership includes not only Chinese citizens, but also seasoned professionals from European states, New Zealand, Brazil, Indonesia, India and other countries. A Canadian national with decades of experience in evaluation and finance serves as managing director with responsibility for complaints resolution, evaluation and integrity.
To date, Beijing has been committed to the concept of an MDB operating transparently with solid governance and a clearAIIB’s growing investment in quality infrastructure and regional connectivity, and robust response to COVID-19, are helping low- and middle-income countries move up the economic ladder. In this way, the bank helps to create long-term opportunities for Canadian businesses by enlarging foreign markets for their goods and services.
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