Regions around New Zealand are in for a funding boost with $48 million in loans on the way thanks to the Provincial Growth Fund.
The money will go towards nine projects including horticulture development, water storage, and some iwi and council ventures, Regional Economic Development Minister Shane Jones said.
“While this Government has responded quickly to the need for short- and medium-term support for Kiwis, businesses and industry, we are also working on a comprehensive long-term economic recovery package,” Mr Jones said.
“Finalising these Provincial Growth Fund loans and getting this much-needed capital into the regions over the next few months will aid longer-term economic stability and create sustainable jobs in the regions.
“They are proof of the commitment we have to supporting our regions and the confidence we have that they will recover economically from what has been a devastating blow for some regions and sectors.
“These projects are going to make a real social and economic difference in their communities. Our regions will play a large role in the recovery of our economy and we need to channel every dollar of PGF funding we can into supporting them and the communities within them.”
The nine initiatives receiving loans totalling $48.4m are:
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