The New Zealand government announced on Thursday that it will allocate at least NZ$877 million ($524 million) toward the reconstruction efforts in Auckland, the country’s largest city. This comes after floods in January wreaked havoc on the city, rendering some houses unlivable and causing extensive destruction to infrastructure.
Auckland, home to 1.6 million people, was severely impacted by flash flooding and landslides during late January, resulting in the loss of four lives, as well as significant damage to roads and residential properties.
Grant Robertson, the Finance Minister, revealed that the government’s contribution will reach up to NZ$387 million, which accounts for approximately 50% of the assessed buyout value for uninhabitable houses, minus insurance payments. The Auckland Council will assume responsibility for the remaining amount.
In addition to this, Robertson stated that the government will also provide NZ$380 million to invest in flood protection measures for Auckland and allocate NZ$110 million to repair transportation networks adversely affected by the extreme weather events.
“I am pleased that we have reached this agreement, allowing the Auckland Council to offer certainty to those individuals whose properties, or neighboring properties, were severely impacted by floods or landslides,” expressed Robertson in a statement.
The Auckland Council has also submitted an application for approximately NZ$200 million in additional funding from the road transport authority, which will be utilized to aid in the restoration of the city’s road network.
($1 = 1.6750 New Zealand dollars)
(Reporting by Lucy Craymer; Editing by Stephen Coates)
Credit: The Star : News Feed
