Investment priorities of the Regional Infrastructure Fund
Five priority areas have been identified by the Regional Development Ministerial Group (RDMG), on behalf of Cabinet, to guide Regional Infrastructure Fund (RIF) investments.
These include Energy (including bioenergy), Water Storage, Resilience (including flood resilience), Māori Economic Development, and Enabling Infrastructure.
The priority areas have been identified as key elements that impact the productivity or resilience of many of our regions and help to support the government’s Going For Growth agenda of growing New Zealand’s economy faster, lifting living standards, and improving opportunities for all New Zealanders.
They are intended to guide Kānoa – Regional Economic Development & Investment Unit’s (Kānoa) delivery of the fund and support ministerial decision making. Applications not covered by the five priority areas may still be eligible for the RIF.
It is important to note that the RIF is a limited fund and in making investment decisions, trade-offs may need to be made that reflect this.
More information about eligibility:
Energy
Through investment in energy-related projects, the RIF aims to improve regional energy resilience, security, reliability, and affordability to support regional economic development. The RIF also seeks to catalyse economic activity by promoting energy availability for business development. Examples include regionally significant transmission and distribution assets, small-scale renewable distributed generation, and assets that develop emerging or novel energy resources and supply chains e.g. hydrogen and bioenergy.
Regional Infrastructure Fund Position Paper: Energy Security [PDF 220KB] — MBIE.govt.nz
Water storage
The RIF will prioritise investment in water storage projects that support the resilience of the food production sector and enable transition to more productive land uses. Examples include water storage ponds and irrigation infrastructure.
Regional Infrastructure Fund Position Paper: Food Production [PDF 555KB] — MBIE.govt.nz
Resilience
Proactive RIF investment into resilience projects includes infrastructure that will provide resilience and protection to communities from extreme weather events and other impacts of climate change. Examples include connectivity, food security and flood resilience.
Māori Economic Development
The Māori economy is an important, and growing, component of New Zealand’s economy. The RIF aims to be a potential source of investment in Māori-led regional infrastructure projects where it is proven that funding cannot be found elsewhere. Examples include projects that unlock productive uses of whenua Māori, improve access to and participation in markets for Māori businesses and communities, and enhance the productivity of Māori businesses in ways that catalyse wider socioeconomic or other benefits for regions.
Regional Infrastructure Fund Position Paper: Māori Economic Development [PDF 547KB] — MBIE.govt.nz
Enabling Infrastructure
Enabling infrastructure supports growth by ensuring regions are well-connected and productive. The RIF’s priority investments will be in assets that are used by and/or generate benefits for, many parts of a community or multiple businesses. Examples include ports, freight and business hubs.
Regional Infrastructure Fund Position Paper: Transport and Supply Chains [PDF 529KB] — MBIE.govt.nz