Freeland to Testify at Committee on Canada’s Funding to Beijing-Led Infrastructure Bank

Asian Infrastructure Investment Bank in Beijing, on Jan. 16, 2023. (VCG via Getty Images)

A House of Commons committee is set to question Finance Minister Chrystia Freeland about Canada’s dealings with the Asian Infrastructure Investment Bank (AIIB), which has been accused of being under the influence of Beijing. This comes five months after Ms. Freeland’s commitment to suspend collaboration with the bank.

MPs voted in favour of an Oct. 23 motion asking the House of Commons Special Committee on Canada-China Relations to invite the Minister of Finance to appear as a witness in its examination of “Canada’s freeze in government-led activity” with the AIIB, as first reported by Blacklock’s Reporter.

Ms. Freeland announced on June 14 that cabinet would “immediately halt all government led-activity” at the Chinese-led bank.

“I have instructed the Department of Finance to lead an immediate review of the allegations raised and of Canada’s involvement in the Asian Infrastructure Investment Bank,” Freeland said in a statement at the time.

This decision followed the abrupt resignation of Bob Pickard, a Toronto publicist serving as the AIIB’s communications chief. In a social media post, Mr. Pickard had described the Bank as a “cesspool” infiltrated by the Chinese Communist Party (CCP).

“The Communist Party hacks hold the cards at the Bank. They deal with some board members as useful idiots,” Mr. Pickard wrote. “I believe that my Government should not be a member of this PRC [People’s Republic of China] instrument. The reality of power in the bank is that it’s CCP from start to finish.”

Related Stories

Former Asian Infrastructure Bank Executive Says His Secretary Was Spying on Him for CCP

8/8/2023

EXPLAINER: What Is Canada’s Involvement in the Beijing-Backed Asian Infrastructure Investment Bank?

7/11/2023

He further raised concerns in a June interview with CBC saying Canada’s membership in the AIIB could be seen as an endorsement for the CCP and contributes to the promotion of the authoritarian regime’s image.

“I didn’t find a single tangible benefit to communicate back home here to Canada of what this bank does that is consistent with our values in a way that would benefit Canadians,” he said.

“All we’re doing with our membership in this bank is we’re making China look good as a country able to do multilateralism. We are effectively supporting the Chinese image campaign to show that they are ready to assume world leadership and, frankly, I don’t think that’s the country that we should support, especially in the current political environment.”

The AIIB denied Mr. Pickard’s comments about its leadership, deeming them “baseless and disappointing,” in a June 14 press release.

The Canada-China Committee plans to also extend an invitation to Mr. Pickard to appear as a witness.

The AIIB, founded in 2016, is a multilateral development bank seen as Beijing’s response to the Western-led World Bank and Asian Development Bank. Canada formalized its membership in the AIIB in 2018, committing $256 million to acquire shares in the bank. Since 2020, the opposition has been pressing Parliament to divest the shares. The bank has 109 members worldwide.

Conservative MP Tom Kmiec, who introduced the Oct. 23 motion, noted that since Ms. Freeland made her commitment to an expedited review of activities at AIIB in June, the government has not made an additional announcement.

The Epoch Times reached out to the finance department for comment about its review progress but didn’t hear back by press time.

The Canada-China committee is scheduled to convene a meeting to hear testimony from Ms. Freeland no later than Dec. 15.