8 Apr 2015

Negotiations on AIIB founding membership continue

7:52 pm on 8 April 2015

The New Zealand government says it will be some months away from deciding whether it will become a founding member of the Asian Infrastructure Investment Bank.

Embassy of China, in New Zealand

Embassy of China, in New Zealand Photo: RNZ / Johnny Blades

The China-initiated bank is seen as a rival to the World Bank and the Asian Development Bank.

New Zealand has been mentioned by foreign media as a founding member but a spokesperson for finance minister, Bill English, says this is not yet the case.

The official says New Zealand, and all the other countries mentioned as founding members, are dubbed "prospective founding members" of the AIIB and will remain so while negotiations around the agency's creation continue.

Get the new RNZ app

for ad-free news and current affairs