February 03, 2020
$30 million for Maori land projects
Thirty initiatives have been approved to receive grants or loans from the $100 million Whenua Māori allocation in the Provincial Growth Fund.
Regional Economic Development Shane Jones says the initiatives are worth about $30 million, with another $40m of applications under assessment.
He says the PGF is meeting a gap in the market, as commercial banks are less willing to lend to the owners of underutilised blocks of Māori land because of its special status.
Some landowners need to do some fundamental work to remediate their land after poor lease arrangements over long periods of time or because the land has reverted to gorse or unproductive scrub.
In Northland, this means the Waima Tohu B Ahu Whenua Trust can now focus on pasture reinstatement, like scrub clearing, fertilising and fencing and the Whangaroa Ngaiotonga Trust Farm will be able to carry out essential remedial work to bring their land in line with optimal farming practices.
Other landowners nationwide are forming collectives with neighbouring landowners to increase commercial viability.
This will unleash the economic potential of their land and lead to improved productivity, greater returns for their beneficiaries and increased local jobs.
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