National | Provincial Growth Fund

Govt refocusing $600m on projects with immediate economic benefits

Minister Shane Jones has announced that $600 million of the provincial growth fund will be refocused on projects with more immediate economic benefits. This is the first tranche of new projects to be funded and is expected to create hundreds of jobs post-Covid-19.

$600 million to help reset regional economies in Aotearoa is set for the next two to six months.

"We need to move right away in order to put money into the pockets of organisations, businesses and local government," says Regional Economic Development Minister Shane Jones.

Minister Jones announced that $100 million will be allocated to waterway fencing, riparian planting and stock water reticulation, while $60 million will be directed toward road and rail investments and up to $70 million for upgrades to town halls, Pasifika churches, war memorials and marae.

Cabinet has given the provincial development unit a renewed mandate to get projects underway as soon as possible.

Local roading and rail projects have been allocated to seven regions throughout Aotearoa and are expected to create at least 600 jobs.