Article content continued

But a document tabled in Parliament Monday shows that none have done so to date.

The Liberal government’s written response to a question from Conservative MP Ron Liepert states that although the AIIB has invested US$6.4 billion in 32 projects to date, mostly in the transport, energy and water sectors, “there is no Canadian investor engagement in these projects.”

As for bidding on work, “Finance Canada is unaware of any Canadian business having won procurement contracts to date for either goods or services.”

The response says the AIIB is a new institution and it is still developing the systems that allow for public reporting of contract details. To help pair Canadian firms with potential business opportunities through the bank, the government is staffing a new position under the Trade Commissioners Service, it says. “This position will help the government of Canada have better insight into the commercial relationship between Canadian businesses and AIIB-financed projects,” according to Finance Canada.

Even if Canada were not a member of the bank, it would be able to bid on procurement contracts — the AIIB’s rules state “firms and individuals from all countries to offer goods, works and services for a Bank-financed contract, regardless of whether the country is a member of the Bank.” And Canada’s share only gives it one-per-cent voting power on decisions.

The rationale for entering the AIIB was not based just on economic gains for the Canadian domestic market, however, but also on the idea that supporting Asian development will lead to long-term economic benefits globally. Membership in the bank, according to the document, also helps Canada “advance priorities such as inclusive growth and gender equality” within the Beijing-based institution.