PhotoBEIJING — Canada said on Wednesday that it had applied to join China’s version of the World Bank, breaking with previous leaders who had shared United States officials’ skepticism of the new Beijing-led lender. For Canada, joining the bank could help strengthen its relationship with a country that is increasingly important to its economy. Advertisement Continue reading the main storyMr. Hong had served as the chief risk officer for the Asian Infrastructure Investment Bank, and the bank was now seeking a replacement, Mr. Jin said. Three of the projects are being financed with other institutions — the Asian Development Bank, the World Bank and the European Bank for Reconstruction and Development — a cautious approach that has helped build the bank’s credibility. The bank said Canada and other new members are expected to join early next year.

Source: International New York Times August 31, 2016 12:22 UTC