Water storage projects are the main recipients of millions of dollars in loans from the Provincial Growth Fund. Photo / Warren Buckland
Water storage projects are the main recipients of millions of dollars in loans from the Provincial Growth Fund. Photo / Warren Buckland
The Government is loaning almost $50 million for regional projects including irrigation for a number of farming projects.
Minister of Regional Economic Development Shane Jones said this morning that the money was coming from the Provincial Growth Fund, a $1 billion-a-year fund that was in the Labour-NZ First coalition agreement.
He said it would help with the recovery from the economic fallout of the Covid-19 crisis.
"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."
• Hawke's Bay Regional Council, Tukituki water storage development phase - $2.5m
• Hawke's Bay Regional Council, Heretaunga Plains water storage development phase - $1.7m
Some of the loans will be paid in tranches and ongoing payments are subject to conditions that include reaching key milestones, Jones said.
The funding for the Raukokore River project is for the design and construction to support 200-300ha and potentially up to 900ha long-term of horticulture.
It is expected to be used by the Wai o Kaha Gold kiwifruit orchard.
The Wairarapa Water project is for freshwater supply to the region's primary sector activities and for drinking water.
The Whakatāne riverfront revitalisation project is for a riverfront promenade including amenities and a recreation area. Another Whakatāne council project is for a commercial boat harbour.
The Awanui water storage project is for Māori-owned land near Kaitāia to transition dairy farm land to more sustainable horticulture.
The Hineuru cherry orchard development is aimed to develop 14ha of unproductive iwi-owned land in Meeanee, Hawke's Bay.
