RIF Boosts Regional NZ, Promises More

The Coalition Government's drive for regional economic growth through the $1.2 billion Regional Infrastructure Fund is on track with more than $550 million in funding so far committed to key infrastructure projects, Regional Development Minister Shane Jones says.

"To date, the Regional Infrastructure Fund (RIF) has received more than 250 applications. Approved investments align with the Government's focus areas of enabling growth and water storage, supporting energy generation and Māori economic development, and increasing resilience," Mr Jones says.

"The Government is committed to boosting the economy by prioritising spending through the RIF to areas that deliver the best impact regionally. While the eligibility criteria are tight, the breadth of projects already approved are remarkable and I have no doubt they will have significant impacts on regional economies.

"From investment into cutting-edge technology like supercritical geothermal energy to ensuring our regions can better cope with devastating weather events, the RIF is playing an important role in delivering well-planned resilient and enabling infrastructure."

Mr Jones also today released dates for further regional summits.

"Last year I made it a priority to travel around the country to talk to communities about their regional priorities, and ideas and aspirations for their regions. So far we have held 10 summits, with more than 1200 stakeholders attending. I'm pleased to confirm the remaining four summits for this year."

Editors' note

The Regional Infrastructure Fund is a capital fund with the primary purpose of accelerating infrastructure projects, particularly with a focus on water storage, energy, Māori economic development, growth, and resilience.

Committed funding includes approved funding and funding ring-fenced for specific purposes but is yet to be approved for release.

More information about the RIF can be found on the Grow Regions website.