Justin Trudeau has officially submitted Canada’s application to join a controversial new international infrastructure bank led by China, an initiative from the global economic power to build more economic credibility globally.
China founded the US$100-billion (£76.17 billion) Asian Infrastructure Investment Bank late last year to provide other countries in the region access to capital for investments in projects in areas such as transportation, power and telecommunications.
The Canadian government made the announcement after the prime minister met with Chinese Premier Li Keqiang on Wednesday in Beijing, but did not immediately specify how much money it would put into the new bank.
The government said joining the bank will help Canada further engage in multilateral infrastructure efforts, and help pave the way for Canadian companies looking for new business opportunities.
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.