WELLINGTON, July 12 (Xinhua) -- New Zealand on Wednesday allocated 17.7 million NZ dollars (12.8 million U.S. dollars) in funding over the next two years for the Regional Growth Program as part of Budget 2017.
Through the program, the government is supporting regions to develop economic development action plans specific to their needs, Economic Development Minister Simon Bridges said in a statement.
"New Zealand's economy is made up of diverse regions, each with their own unique set of natural resources, infrastructure and people with their own ideas on how to lift their region's social and economic potential," Bridges said.
This new funding allows government to continue building its partnerships with the regions, building on the 44 million NZ dollars (31.8 million U.S. dollars) allocated for Regional Growth Initiatives as part of last year's budget, Bridges said.
Over the last three years, the government has worked with ten regions to identify economic challenges and opportunities and launch action plans, Bridges said.
This funding is further to the 50 million NZ dollars (36.2 million U.S. dollars) announced by Prime Minster Bill English on Wednesday to help the most at-risk young people in regional New Zealand into sustained employment, a key part of the government's plan to support the regions. Enditem
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