Initial $25m flood recovery ‘likely to be over-subscribed’

A109 Light Utility Helicopter flight with mayor Gisborne City from the air in November 2023.

HUNDREDS of businesses here have applied for cyclone relief and $4.1 million has already been paid out, says Cyclone Recovery Minister Grant Robertson.

The Government is providing a further $25m in grants to help more businesses in cyclone-affected regions with the clean-up and get them back up and running.

“This follows an initial $25 million emergency package, which also included business support and advice services,” Mr Robertson said.

The extension of funding provided help to more businesses whose operations had been severely disrupted by the flooding and cyclone, and helped to address their immediate cashflow needs.

“As more is known about the scale of the cyclone damage it is important that the local agencies on the ground working with affected businesses have the financial support to deal with the most pressing needs in their regions,” Mr Robertson said.

“The uptake of grants has been strong. For example, in Tairāwhiti, 372 applications for business support have been approved, with $4.1 million paid out.

“Based on the applications to date, it is clear that the initial $25 million business support package announced in late February is likely to be oversubscribed.

“Ministers will ensure that support will be targeted at those regions where the need is greatest.

“The extension of funding would not change the current settings or intent of the grants, but would allow more firms to be supported up to the $40,000-per-business cap.”