Canadian companies start to benefit from membership in China-based infrastructure bank

OTTAWA — At least one Canadian company has successfully bid on a contract with the Asian Infrastructure and Investment Bank, a nascent multilateral institution based out of Beijing.

But in conversation with the National Post, a spokeswoman for the bank, Canadian Laurel Ostfield, confirmed that at least one Canadian company, Hatch Consulting, has won a procurement contract with the AIIB. She said others, including a major Canadian firm — not SNC-Lavalin — are in the running for additional contracts. Hatch’s lead executive for China was not available for an interview this week.

From the American point of view, this is just another way the authoritarian regime is trying to extend and buy influence — like with the Belt and Road initiative, which has seen China invest hundreds of billions of dollars into expanding transportation infrastructure outside of its borders. As a counterbalance, the U.S. is partnering with Japan to fund its own set of infrastructure projects in the region.

we owe more to China? this seens dumb

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Source: CP24 - 🏆 30. / 67 Read more »