“In times like this when we come together as a nation we see a phenomenal effort. The generosity we’ve seen from people donating their time, money, food and shelter to those in need has been incredible.”
Watson said there were communities that needed its support as they deal with the overwhelming devastation they are facing to their homes, properties and businesses.
“In the coming weeks and months we’ll have a clearer picture of the scale of the destruction and what further support is needed. We’ll work with those communities to ensure funding and support gets to where it is needed most.”
The fundraising match will be the Black Caps versus Sri Lanka match at Eden Park on Saturday, March 25 where the bank will also encourage the public to donate further on the day.
Watson said there would be a need for ongoing support in the form of donations, funding and finance initiatives to deal with the impacts of the cyclone.
“Once we get through the immediate crisis, central and local government, along with the business community, Iwi and civil society will need to thoughtfully respond to this huge challenge. One of the big tasks will be the need to be innovative in how the nation funds the recovery and rebuild,” she added.
ANZ follows a move by ASB which announced on Sunday it would donate $2m to the New Zealand Red Cross New Zealand Disaster Fund.
ASB chief executive Vittoria Shortt said the bank would support communities and customers now and in the future, as impacted regions manage the immediate crisis and begin the long recovery process.
“The devastation we’re seeing, and the stories we’re hearing from our customers and the ASB team on the ground in Hawke’s Bay, Tairāwhiti and across the North Island is sobering. Our hearts are with everyone affected by this crisis.
“While the scale and devastation of the floods is still being understood, it’s clear significant funding and support is going to be required to help these regions get back on their feet.
“It’s been incredible to see the hard work already underway in impacted areas and we’re encouraging other organisations, and any Kiwi in a position to help, to get behind the New Zealand Red Cross or other efforts such as local mayoral relief funds.”
Meanwhile, BNZ has said it would donate $250,000 to the Salvation Army to support communities affected by severe weather.
It has also announced a billion fund to support businesses with $250m allocated to low-interest loans for BNZ business customers affected by the cyclone to meet their recovery needs and get back to trading as soon as possible and the remaining $750m for all businesses to rebuild and for investment in initiatives to future-proof their operations, such as green technology, renewable energy, or new infrastructure.
BNZ chief executive Dan Huggins said it recognised the hardship caused by the recent devastating weather events and wanted to ensure that businesses in affected regions have access to the support and resources they need to get back on their feet.
Westpac is offering a $1m small business flood relief fund where small business customers financially impacted by Cyclone Gabrielle and the earlier floods who meet the eligibility criteria can apply for a $2,500 cash grant to help with urgent expenses or repairs.
The fund covers all regions where a state of emergency has been declared since 27 January 2023.
It is available until it is fully allocated or until 5pm on 24 February 2023, whichever is earlier.
Banks are also offering relief on mortgages and overdrafts for those affected by the weather events.
Last week the Government tweaked regulations to make it easier for those affected by extreme weather to borrow money from their banks or other lenders.
It has amended the Credit Contracts and Consumer Finance Regulations 2004 to exempt lenders from doing affordability tests on prospective borrowers.
Lenders won’t have to make inquiries about whether flood/cyclone/slip-affected borrowers can repay debt, and whether the guarantor will be able to comply with a guarantee without suffering substantial hardship.
The “emergency relief” exemption applies to individuals - not businesses - seeking an overdraft or home loan worth up to $10,000.
