"Finalising these Provincial Growth Fund loans and getting this much-needed capital into the regions over the next few months will aid longer-term economic stability and create sustainable jobs in the regions.
"They are proof of the commitment we have to supporting our regions and the confidence we have that they will recover economically from what has been a devastating blow for some regions and sectors," Jones said.
Projects receiving loans include water storage projects and horticulture development on under-utilised land and include iwi and council ventures.
The Bay of Plenty projects included in the loans are the Whakatāne District Council and Ngati Awa, Whakatāne riverfront revitalisation ($9.6m) and Te Rahui Lands Trust, Ngati Awa Group Holdings and Whakātane District Council's development of a commercial boat harbour ($4.7m).
"These projects are going to make a real social and economic difference in their communities. Our regions will play a large role in the recovery of our economy and we need to channel every dollar of PGF funding we can into supporting them and the communities within them," Jones said.
The nine initiatives receiving loans totalling $48.4m are:
• Raukokore River Water Ltd, water storage project – $10.6m
• Wai o Kaha Gold JV Ltd Partnership, kiwifruit orchard development – $5m
• Wairarapa Water Limited, community water storage – $7m
• Whakatāne District Council and Ngati Awa, Whakatāne riverfront revitalisation - $9.6m
• Te Rahui Lands Trust, Ngati Awa Group Holdings and Whakātane District Council – $4.7m
• Te Waka Pupuri Pūtea Trust, Awanui water storage project (Far North) – $3m
• Hineuru Iwi Trust - Hineuru cherry orchard development - $4.3m
• Hawke's Bay Regional Council, Tukituki water storage development phase - $2.5m
• Hawke's Bay Regional Council, Heretaunga Plains water storage development phase - $1.7m
- Some of these loans will be paid in tranches and ongoing payments are subject to conditions that include reaching key milestones.
