Canada gets green light to join controversial China-led infrastructure bank
OTTAWA — Canada has been approved to join a controversial new international infrastructure bank led by China.
The Asian Infrastructure Investment Bank says Canada is among 13 applicants approved for membership in the bank by its board of governors.
The bank says Canada will officially join once it fulfills its domestic requirements and deposits a first instalment of capital.
In the federal budget introduced Wednesday, the Trudeau government earmarked $256 million over five years to join the bank, saying legislation on Canada’s membership will be introduced this year.