Governance and decision-making
The Provincial Development Unit, part of the Ministry of Business, Innovation and Employment, assesses each application and provides advice to the groups who'll make a final decision on funding.
We assess the applications against the Provincial Growth Fund criteria and investment principles. We work with other government agencies where appropriate, including the New Zealand Transport Agency, Ministry of Transport, Ministry for Primary Industries, and Te Puni Kōkiri.
Who makes decisions?
- Cabinet has oversight of the Provincial Growth Fund, and makes decisions about investments of $20 million or more.
- Regional economic development (RED) Ministers are those with a portfolio which relates to our goals. They make decisions about investments between $1 million and $20 million. Other ministers are consulted when a decision relates to their portfolio. Executives from the relevant ministries and government agencies also attend the meetings. The wider group is made up of the ministers for: Finance (Grant Robertson), Regional Economic Development (Shane Jones), Economic Development (Phil Twyford) and Transport (Phil Twyford).
- Senior regional officials (SROs) made decisions about investments of below $1 million.
- The Independent Advisory Panel (IAP) provides independent advice to Ministers on Provincial Growth Fund investment proposals, and supports our work to build a balanced and coherent portfolio of investments. Panel members have skills in commercial, industry, public policy, and sector-specific knowledge where relevant. They give feedback on applications for large sector projects, lend their commercial expertise to help assess business cases, and offer advice on the overall investment portfolio. The panel members are: Rodger Finlay (chair), Dr Charlotte Severne, John Rae, John Sproat, Neville Harris, Rosie Mercer and Sarah Brown. Media release: Inaugural meeting of Independent Advisory Panel, 13 February 2018
- Provincial Growth Fund Limited (PGFL) is an asset holding company for loan and equity investments made through the Provincial Growth Fund (PGF). More background information and documentation on the PGFL.
We publish papers from meetings of decision makers to the MBIE document library.
About these documents
We are committed to sharing information about funding applications and our decision-making processes. We also need to be able to protect applicants' interests, and our own ability to negotiate, so some of these documents have been redacted.
Information is accurate as at the date/time the document was produced. Information is subject to change as new information is received, which may occur following production and before public release.
With the recent refocusing of the PGF in response to COVID-19, an updated schedule of decision-making meetings for 2020 is being developed. Once this schedule has been confirmed, this page will be updated.
Published: Jun 15, 2020