Regional Infrastructure Fund Launched to Drive Productivity, Resilience in NZ

With a budget allocation of $1.2 billion over three years, the Regional Infrastructure Fund will prioritize investments in infrastructure that enhance resilience and enable economic growth in regional areas.


Devdiscourse News Desk | Wellington | Updated: 30-05-2024 13:26 IST | Created: 30-05-2024 13:26 IST
Regional Infrastructure Fund Launched to Drive Productivity, Resilience in NZ
Minister Jones underscored the importance of modern and fit-for-purpose infrastructure in driving prosperity and resilience, noting its role in boosting productivity for businesses and creating resilient communities. Image Credit: Wikimedia
  • Country:
  • New Zealand

Regional Development Minister Shane Jones has announced the launch of the Regional Infrastructure Fund, aimed at bolstering regional productivity, prosperity, and resilience across New Zealand.

Highlighting the government's commitment to fostering a stronger, more productive economy, Minister Jones emphasized the fund's role in supporting regional growth by investing in both new and existing infrastructure projects.

With a budget allocation of $1.2 billion over three years, the Regional Infrastructure Fund will prioritize investments in infrastructure that enhance resilience and enable economic growth in regional areas.

The initial focus of the fund will be on flood protection and resilience projects, with an allocation of $200 million dedicated to this critical area. Up to $101.1 million has already been committed to 42 flood resilience projects identified in the Before the Deluge 2.0 report, with additional co-investment from project recipients.

Projects include upgrades to stopbanks and floodwalls in regions such as the Bay of Plenty, Marlborough, and Northland, addressing critical gaps in flood protection infrastructure highlighted by extreme weather events like Cyclones Hale and Gabrielle.

Minister Jones underscored the importance of modern and fit-for-purpose infrastructure in driving prosperity and resilience, noting its role in boosting productivity for businesses and creating resilient communities.

Moreover, increased investment in regional infrastructure is expected to generate employment opportunities, facilitate access to new markets for regional businesses, spur innovation and technology development, and support the Māori economy.

Details on the assessment criteria for the fund will be announced at the end of June, with applications opening on 1 July. Minister Jones emphasized the proactive approach of the fund, with ongoing regional engagement to ensure swift implementation of projects.

The Regional Infrastructure Fund represents a strategic initiative aimed at fostering sustainable economic development and resilience in New Zealand's regions, aligning with the government's broader economic rebuilding agenda.  

Give Feedback