The Government has today announced that Kainga Ora’s future financing requirements will be met by loans from New Zealand Debt Management (NZDM), rather than private markets. Further details on the changes are available here.
An increase in Kāinga Ora’s borrowing capacity of NZ$2.75 billion for 2022/23 was also announced.
Any changes to forecast funding requirements for the Crown, resulting from these announcements, will be incorporated in the updated forecast core Crown borrowing programme, alongside the 2022 Half Year Economic and Fiscal Update in December.
New Zealand Debt Management is currently working closely with Kāinga Ora to ensure that eligible Kāinga Ora expenditure will be included in the Sovereign Green Bond Programme.