New Zealand’s focal development agencies are its Ministry of Foreign Affairs and Trade (MFAT) and the International Aid and Development Agency (NZAID). The latter is a semi-autonomous body within MFAT that provides project-specific cofinancing. The country’s priority sectors are information and communication technology, education, energy, oceans and fisheries, health, rural development, and transport. Its priority themes are governance, security, economic development, climate change, disaster risk management, economic and policy work, human development and labor mobility, social protection, trade and the private sector, and support of global goals and targets, including the Sustainable Development Goals. New Zealand extends development assistance primarily to Pacific countries and the ASEAN, including Cambodia, Indonesia, the Lao People’s Democratic Republic, Myanmar, the Philippines, Timor-Leste, and Viet Nam.
At a Glance
Cumulative Project-Specific Cofinancing
Cumulative Trust Funds Contribution
2020 Project-Specific Cofinancing
- $24.6 million
In 2019, New Zealand supported the Pacific Renewable Energy Program through a grant of $3 million to cover the letters of credit for projects under the program. The program’s key feature is the use of donor funds to cover the power payment obligations of utilities in the Pacific. In addition to letters of credit, the program also uses partial risk guarantees and direct loans. Through these mechanisms, the program seeks to attract more private investments in renewable energy projects in Pacific countries.
New Zealand supported ADB’s nonsovereign operations, too, through project cofinancing and its work with the Trade Finance Program (TFP). From 1 January 2016 to 31 December 2020, private entities domiciled in New Zealand provided $280,000 in cofinancing for 1 nonsovereign project.
As of December 2020, ADB’s TFP has supported 235 New Zealand export and import transactions (through New Zealand and non-New Zealand banks) to developing Asia valued at over $76.1 million. Exports and imports were to six countries, including Bangladesh, Pakistan, and Viet Nam. Isolating TFP’s work with New Zealand banks, the TFP works with a bank domiciled in New Zealand and has provided guarantees supporting $21.4 million in trade in over 90 transactions.
1 January 2014–31 December 2020 Cofinanced Projects
a G = official grant cofinancing, TA = technical assistance cofinancing