National Infrastructure Funding and Financing Limited (NIFFCo) is a national infrastructure agency and

Crown-owned company A Crown entity (from the Commonwealth term ''Crown'') is an organisation that forms part of New Zealand's state sector established under the Crown Entities Act 2004, a unique umbrella governance and accountability statute. The Crown Entities Act ...

created by the

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to attract funding and financing for infrastructure projects in New Zealand, and addressing the country's infrastructure deficit.

History

Predecessors

In 2009, the New Zealand Government had created a

called Crown Fibre Holdings to implemented its NZ$1.7 billion

Ultra-Fast Broadband The Ultra-Fast Broadband initiative is a New Zealand Government programme of building fibre-to-the-home networks covering 87% of the population by the end of 2022. It is a public–private partnership of the government with four companies with ...

programme providing Fibre-to-the-home services to 87% of population. At the time, this marked the largest public-private infrastructure initiative in New Zealand. Crown Fibre Holdings was subsequently revamped as Crown Infrastructure Partners (CIP). In 2017, CIP was tasked with investigating and implementing commercial models to help the Government develop more water and road infrastructure to accommodate an national increase in housing supply. In 2020, Crown Infrastructure Partners was given oversight over the Government's "shovel-ready projects"during the

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Launch

During the

2023 New Zealand general election The 2023 New Zealand general election was held on 14 October 2023 to determine the composition of the 54th New Zealand Parliament, 54th Parliament of New Zealand. Voters elected 122 members to the unicameral New Zealand House of Representatives ...

, the centre-right

National Party National Party or Nationalist Party may refer to: Active parties * National Party of Australia, commonly known as ''The Nationals'' * Bangladesh: ** Bangladesh Nationalist Party ** Jatiya Party (Ershad) a.k.a. ''National Party (Ershad)'' * Californ ...

campaigned on creating a national infrastructure agency. As part of National's coalition agreement with the populist

New Zealand First New Zealand First (), commonly abbreviated to NZ First or NZF, is a political party in New Zealand, founded and led by Winston Peters, who has served three times as Deputy Prime Minister of New Zealand, deputy prime minister. The party has form ...

party, the Sixth National Government agreed to establish a national infrastructure agency. On 28 August 2024, Minister for Infrastructure

Chris Bishop Christopher Bishop (born 4 September 1983) is a New Zealand politician for the National Party. He was first elected to the New Zealand House of Representatives in 2014 as a list MP. Bishop won the Hutt South electorate in 2017 but lost the ...

announced that the existing Crown Infrastructure Partners would be repurposed as a new national infrastructure agency, which would commence operations on 1 December 2024. This agency would be tasked with serving as a "shopfront" for receiving investment proposals, supporting private infrastructural investment, partnering with agencies and local government on projects involving proving finance, and administering the central government's infrastructure funds. On 30 September 2024,

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Christopher Luxon Christopher Mark Luxon (; born 19 July 1970) is a New Zealand politician and former business executive who has served as the 42nd prime minister of New Zealand since 2023 and as leader of the National Party since 2021. He previously served ...

listed the creation of a national infrastructure agency as part of the Government's fourth quarterly plan. The National Infrastructure Funding and Financing Limited (NIFFCo) formally came into existence on 1 December 2024 and assumed CIP's functions and responsibilities. NIFFCo was tasked with partnering with agencies to deliver projects involving private finance, connecting investors to relevant funds and facilitating a "transparent, consistent and efficient" process for infrastructure investment projects.

References

External links

*{{Official website, https://nationalinfrastructure.govt.nz/ 2024 establishments in New Zealand New Zealand crown entity companies Government-owned companies of New Zealand Sixth National Government of New Zealand