Canada seeks to join China-backed AIIBAugust 31, 2016 - 11:38 AMT PanARMENIAN.Net - Canada will apply to join the China-backed Asian Infrastructure Investment Bank (AIIB), Ottawa's finance department said on Wednesday, August 31 in a coup for Beijing after Washington had tried to dissuade U.S. allies from signing up, AFP reports. "Canada is always looking for ways to create hope and opportunity for our middle class as well as for people around the world," Finance Minister Bill Morneau said in a statement issued in Beijing. "Membership in the AIIB is an opportunity to do just that." The Beijing-based lender has been viewed by some as a rival to the World Bank and the Philippines-based Asian Development Bank, which was founded in 1966. Critics worried that it would set much lower standards for projects and undermine principles of social, environmental and economic sustainability adhered to by the World Bank and other multilateral development finance institutions. AIIB president Jin Liqun welcomed Canada's decision, which he said "shows its confidence in the strong foundations the bank has built in our first few months." The United States, and Japan -- the world's largest and third-largest economies, respectively -- have notably declined to join the bank, AFP says. The announcement came during Prime Minister Justin Trudeau's visit to China, where he met Prime Minister Li Keqiang to try to strengthen ties before the G20 summit this weekend in Hangzhou. Related links: Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Protest leader vows to achieve departure of Armenian authorities According to Archbishop Bagrat, there is only one solution to the situation in Armenia. Heads of Armenian, Ukrainian parliaments hold virtual talks Alen Simonyan and Ruslan Stefanchuk held talks via video conference on Tuesday, May 21. Pashinyan travels to Iran to pay tribute to Raisi, others Prime Minister Nikol Pashinyan has left for the Islamic Republic of Iran on a working visit. Your home is in Armenia – Ameriabank offers mortgage loans for the Diaspora To buy real estate, Diasporans can apply to Ameriabank online to buy, renovate or build a home anywhere in Armenia. |