New Zealand

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

$161.2 million

  

Cumulative Trust Funds Contribution

$500,000

  

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
Country Project Cofinancing Amount ($ million) Type of Cofinancinga
Cook Islands Improving Internet Connectivity for the South Pacific 10 G
COVID-19 Active Response and Economic Support Program 9.9 G
Fiji Supporting Competition Policy and Law Reform 0.2 TA
Sustained Private Sector-Led Growth Reform Program—Subprogram 2 1.7 G
Kiribati Strengthening Economic Management Reform Program – Subprogram 1 2 G
Strengthening Economic Management Reform Program – Subprogram 2 2 G
Strengthening Fiscal Stability Program 0.9 G
South Tarawa Renewable Energy 2 G
Nauru Improving Public Investment Management Program 0.3 G
Papua New Guinea Town Electrification Investment Program – Tranche 1 – Additional Financing 4.8 G
Samoa Fiscal Resilience Improvement Program, Subprogram 1 2.5 G
Renewable Energy Development and Power Sector Rehabilitation – Additional Financing 2.5 G
Solomon Islands Domestic Maritime Support (Sector) 2.8 G
Improved Fiscal Sustainability Reform Program 2 G
Tonga Building Macroeconomic Resilience Program – Subprogram 2 1.1 G
Cyclone Ian Recovery 4.3 G
Strengthening Macroeconomic Resilience Program 4 G
Tuvalu Strengthened Fiscal Sustainability Program 0.4 G
Improved Fiscal and Infrastructure Management Program 0.6 G
Vanuatu Interisland Shipping Support – Additional Financing 4.7 G
Regional Establishment of the Pacific Region Infrastructure Facility Coordination Office (Supplementary) 1.9 TA
Pacific Private Sector Development Initiative, Phase III (Supplementary) 0.4 TA
Sector and Thematic Analyses in Policy Development (Supplementary) 0.4 TA
Pacific Region Infrastructure Facility Coordination Office - Leveraging Infrastructure for Sustainable Development 3 TA
Improving Pacific Public Financial Management Facility (Supplementary) 0.2 TA
Pacific Economic Management (Phase 3) (Supplementary) 0.2 TA
Pacific Region Infrastructure Facility Coordination Office - Leveraging Infrastructure for Sustainable Development (Supplementary) 1.4 TA
Pacific Private Sector Development Initiative, Phase IV (Supplementary) 4 TA
Supporting Public Sector Management Reforms 0.7 TA

a G = official grant cofinancing, TA = technical assistance cofinancing

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