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Government of New Zealand allocates funds for transport sector in Budget 2021–22 [free access]

May 20, 2021

The Government of New Zealand, in its budget for FY2021–22, has allocated NZD1.30 billion for rail projects. The funds will be allocated for developing a wagon assembly facility in Dunedin, the second largest city in the South Island of the country, as well as for procuring 60 new locomotives and 1,900 new wagons.

 

In addition, the government has announced plans to allocate NZD301.80 million between FY2021–22 and FY2024–25 to provide incentives to push the demand for low-emission vehicles. Furthermore, the government has announced plans to recapitalise New Zealand Green Investment Finance to continue to invest in support of climate change mitigation, with special emphasis on decarbonising public transport.

 

(1 NZD [New Zealand Dollar] = 0.72 USD)