Understand your funding options

There are different ways to fund a project. We will work with you to decide what funding type is the most appropriate for your project.

Investment types

It's likely there will be a number of differing types of investments made under the PGF.


An investment delivers a public benefit but has no revenue stream. For example, an investment in capability development or in a road improvement could be a non-commercial investment.


An investment generates a revenue stream, but this is insufficient to be funded by the private sector.


An investment may be viable for the private sector, but we invest to create a public benefit that would not otherwise occur.

Funding types

The right form of funding for your project will depend on whether it's commercial, non-commercial, and the likely outcomes of the project.


Non-commercial projects will in general be funded through grants.

Feasibility studies – projects that will help define and scope future, larger projects – are also likely to be funded via grants.


Debt is our preferred method of funding quasi-commercial and commercial projects (noting there may be some extra caveats for transport projects). Loans will be made available to projects on suitable and agreed terms. We will look for debt collateral that is as strong as possible.


We may be able to ‘underwrite’ the risk of a project; this is likely to take the form of guaranteeing a certain outcome for a project, lowering the risk for other potential investors. We are more likely to underwrite projects in order to accelerate them by making their parameters more certain, rather than in solely financial terms.

For example, if a project estimates a certain volume of visitors to generate a certain level of revenue for a project, the PGF may decide to underwrite that revenue risk to guarantee a certain revenue stream.


In some circumstances, we may be able to take an equity position (part-ownership) in a project. Usually, this will be where the project cannot support further debt, or where there is sufficient extra return from the project which the Government should benefit from.

Attracting third party investors

We may be able to help match your project with potential investors.