New Zealand’s Infrastructure Fund for Economic Recovery

The Government of New Zealand earmarked a NZ$ 3 billion portion from the country´s COVID Response and Recovery Fund to invest in infrastructure plans. The Cabinet announced on June 30th 2020, how the Infrastructure Fund will be allocated across regions and sectors with the target to create more than 20,000 jobs and unlock additional investments. In total, 150 projects worth NZ$ 2.6 billion have been approved among 1924 projects that were submitted for funding requests. NZ$ 464 million will be allocated to housing and urban development, NZ$ 670 for community and social development, NZ$ 708 million for transport projects and NZ$ 460 for environmental projects. Sustainable infrastructure projects include flood protection, stormwater infrastructure, cycleways and walkways, and transformative energy projects.

The initiative allowed the government to understand better the infrastructure needs and plans across the country and enabled to design an infrastructure pipeline that will support the economic recovery in response to region-specific adverse impacts of the COVID-19 pandemic. The newly funded projects are on top of projects funded through the New Zealand Upgrade Programme announced in early 2020 and the Provincial Growth Fund.