<article>New Zealand&#8217;s government said on Tuesday it would increase the capital pool of New Zealand Green Investment Finance, which funds investments that reduce greenhouse gas emissions, to NZ$700 million ($444 million) from NZ$400 million.</article>

New Zealand&#8217;s government said on Tuesday it would increase the capital pool of New Zealand Green Investment Finance, which funds investments that reduce greenhouse gas emissions, to NZ$700 million ($444 million) from NZ$400 million.
&#8220;New Zealand’s challenge is not just about financing the climate transition, but the maturity of the markets that are expected to provide that finance,&#8221; Climate Change Minister James Shaw said in a statement.
&#8220;Public funding alone will not finance the scale of investment that’s needed, with the urgency required, to address the climate crisis.&#8221;
NZGIF is a green investment bank established in 2019 by the current Labour government. The extra NZ$300 million would provide more opportunities for the bank to develop low-carbon projects, drive down emissions and create green jobs, Shaw said.
The announcement is part of the New Zealand government&#8217;s 2023 Budget, which is to be released on May 18.
Reuters

New Zealand's government said on Tuesday it would increase the capital pool of NZGIF to NZ$700 million ($444 million) from NZ$400 million.

New Zealand to increase capital pool of NZGIF by $190m

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New Zealand to increase capital pool of NZGIF by $190m

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