We’re working with Māori landowners to build greater prosperity in the rohe (regions). We’re supporting investment ready projects to help unlock the full economic potential of Whenua Māori: Māori-owned land.
In February 2019, the Government announced that $100 million from the Provincial Growth Fund will be allocated towards projects which support Māori landowners develop their land.
Access to capital funding has, in the past, been a challenge for Māori landowners, as the special status of their land means commercial banks are less willing to lend to them. Because of this, the Government is in a unique position to help landowners make progress on their projects, and to work with commercial lenders to ensure sustainable investment.
We know that in the regions, supporting Māori will drive economic growth and make a difference for entire communities. Supporting Whenua Māori aligns with the Provincial Growth Fund’s priority of supporting Māori economic development in the regions, and helping Māori achieve greater levels of prosperity.
Funding from the Provincial Growth Fund will:
- Address the largest barrier for Māori landowners wishing to move beyond the pre-commercial phase by providing access to financial capital.
- Make it easier for Māori landowners to have greater access to the Provincial Growth Fund by stimulating investment-ready applications that help lift the productivity of their land.
- Bridge the gap between investment readiness and tangible actions that will unlock Māori economic potential and accelerate growth in the regions.
We’re working with the Ministry for Primary Industries and Te Puni Kōkiri to support Māori landowners develop investment ready PGF applications. We're considering applications which meet the existing Provincial Growth Fund criteria, and:
- Involve Māori freehold land or general title land owned by Māori.
- Come from small to medium Māori landholdings that require investment of financial capital to unlock and realise latent potential. Provincial Growth Fund loans may look for alternative security rather than requiring applicants to offer their land as collateral.
- Are up to $10 million.