Thank you very much for the question.
I think there are two important elements to the question. The first is with respect to the benefits the financial institution has had for countries within the region in which it is focused, which is one of the reasons Canada and other members have joined the institution. It is to ensure, as was indicated in Canada's news release at the time of joining the institution, that inclusive economic growth in the region is an objective and that it is something the institution has been focused on.
In the time the institution has existed—and it is a very young institution—it has, so far, provided $35 billion U.S. worth of financing for 178 projects in 31 different countries in that region, including about a third of that, $11.1 billion, to alleviate economic and health pressures from COVID. There is an important story to be told about the success of the institution in that regard.
However, the question was also about benefits for Canadian companies specifically. In that regard, there are a couple of points I would highlight. One is that with respect to contracts earned by Canadian companies, I am aware of four contracts involving Canadian companies for particular projects the institution has financed, nine contracts with five Canadian companies for corporate procurement within the organization itself, as well as 13 individual Canadian consultants who have engaged in various aspects of the work of the AIIB.
The final note I would add in that respect is the important role that the Canadian financial sector also has with respect to engagement in the AIIB, noting for example that 16% of banking transactions conducted by the institution have been handled by Canadian financial institutions. As well, Canadian financial institutions have been participating as underwriters on eight of 10 bond issuances that the institution has engaged in to date.