By Yawen Chen and Sue-Lin Wong
BEIJING (Reuters) – Canada will apply to join the China-backed Asian Infrastructure Investment Bank, or AIIB, Canadian and bank officials said on Wednesday, making it the latest ally of the United States to join the new international development bank.
The multilateral institution, seen as a rival to the Western-dominated World Bank and Asian Development Bank, was initially opposed by the United States but attracted many U.S. allies including Britain, Germany, Australia and South Korea as founding members.
Japan and the United States are the most prominent countries not represented in the bank.
“This is really for us, as a new government, the earliest possibility at which we could indicate our interest,” Canadian Finance Minister Bill Morneau said in response to a question why Canada was only applying to join the bank now.
“We believe the bank is clearly showing that it’s going to be a highly effective multilateral institution,” he added.
Morneau is on a trip to China with Canadian Prime Minister Justin Trudeau seeking to deepen ties with the world’s second-largest economy, a distinct change from former Prime Minister Stephen Harper’s more cautious approach to China.
“The Canadians’ decision to join this bank will greatly strengthen the management of this institution,” AIIB President Jin Liqun told reporters.
“We can see that the U.S.’s attitude towards AIIB is showing signs of changing, as it’s encouraging the World Bank to cooperate more with the AIIB,” Jin added.
White House spokesman Josh Earnest told reporters on Air Force One on Wednesday that U.S. and Canadian officials had been in touch on the issue. “We know that Canada shares our views about the importance of transparency and good governance when it comes to these kinds of international institutions,” Earnest said.
Ultimately it will be a “good thing” if Canada joins the AIIB, as it advocates for such governance, he added. Earnest said he was not aware of any U.S. plans to join the organization.
Canada will submit its application to join the AIIB by the end of September 2016, said Daniel Lauzon, a Canadian Finance Ministry official.
(Reporting by Yawen Chen and Sue-Lin Wong; Additional reporting by Roberta Rampton on Air Force One and Timothy Gardner in Washington; Writing by Sue-Lin Wong; Editing by Simon Cameron-Moore and Peter Cooney)
Hello would you mind letting me know which hosting company you’re using? I’ve loaded your blog in 3 completely different web browsers and I must say this blog loads a lot quicker then most. Can you recommend a good internet hosting provider at a honest price? Thanks a lot, I appreciate it!
When I originally commented I clicked the “Notify me when new comments are added” checkbox and now each time a comment is added I get several e-mails with the same comment. Is there any way you can remove me from that service? Thanks a lot!
There’s noticeably a bundle to find out about this. I assume you made sure nice factors in options also.
Magnificent beat ! I would like to apprentice while you amend your website, how could i subscribe for a blog site? The account helped me a appropriate deal. I were tiny bit familiar of this your broadcast provided vibrant transparent idea
I like the valuable info you provide on your articles. I will bookmark your weblog and test once more here regularly. I’m moderately certain I’ll learn many new stuff proper here! Best of luck for the next!
I’m really inspired along with your writing talents and also with the format for your weblog. Is that this a paid topic or did you customize it yourself? Either way keep up the nice quality writing, it’s uncommon to see a great weblog like this one these days..
Have you ever heard of a decent design?? This one sucks man. The articles are great tho’.
Hello. splendid job. I did not imagine this. This is a excellent story. Thanks!
What’s Going down i am new to this, I stumbled upon this I’ve found It absolutely useful and it has aided me out loads. I hope to contribute & assist other customers like its aided me. Great job.
Wow, marvelous blog layout! How long have you been blogging for? you made blogging look easy. The overall look of your web site is wonderful, as well as the content!