Canada Expands Probe Into Beijing-Backed International Bank, Says Participation Remains ‘Indefinitely Suspended’

The probe into the AIIB includes analyzing the bank’s investments, governance, and management frameworks, says Finance Minister Chrystia Freeland.

The Asian Infrastructure Investment Bank (AIIB) building in Beijing, China, on Jan. 13, 2016. VCG via Getty Images

Canada is expanding its probe into the Asian Infrastructure Investment Bank (AIIB) following warnings about Beijing’s control within the institution. While the federal government is also indefinitely freezing its participation in the organization, the Opposition Tories insist that the government should pull its investment out of the bank altogether.

“In consultation with some of our closest international partners, Canada is expanding its review of the AIIB,” Finance Minister Chrystia Freeland announced in a Dec. 8 statement.