A new investment fund to support COVID-19 recovery in the Pacific was announced  and on December 13.

The InvestPacific is the first private investment fund established to exclusively target the Pacific to strengthen the investment environment, and enhance investment opportunities.

Early next year, government officials are planning to engage with those interested in managing the fund. But before that, the objectives and design of the fund will be released to allow parties with experience in fund management, impact investment, and Pacific and indigenous business development, time to consider taking part in the process.

Minister of State for Trade and Export Growth, Phil Twyford, said New Zealand is committing $17 million to the fund "which is expected to attract an additional $40 million in private investment, and will offer both flexible capital and a technical assistance facility to accelerate investments across the Pacific region".

“This is a significant step in our approach to working with Pacific partners, and it positions the Pacific strongly to take advantage of the stable trade and investment environment created by the PACER Plus agreement.”

“Through InvestPacific, we are ensuring investments provide sustainable finance options and generate real benefits for communities, like more jobs and improved environmental outcomes – reflecting the demand from some investors for a return beyond just a financial one,” he said.

New Zealand Foreign Affairs Minister Nanaia Mahuta jointly announced that the fund also aims to leverage New Zealand-based technical expertise, relationship networks, and cultural advice to maximise benefits for Pacific Island countries.

“We are prioritising the close coordination between the Pacific and New Zealand — particularly Māori and Pasifika — as a key to maintaining an indigenous focus and indigenous-led investments,” she said.

“InvestPacific offers a unique, commercially sustainable programme that enables Pacific communities to realise their own goals and priorities, and improve the social and economic wellbeing.”

Phil Twyford said, “We are continuing to look for opportunities to work with partners across the Pacific to help raise incomes and generate new jobs, and I’m confident we will see a raft of investment prospects through this programme.”