New Zealand’s PGF to commit $40 mln investment in digital connectivity

New Zealand-based Provincial Growth Fund (PGF), a fund owned by broadband services provider Crown Infrastructure Partners (CIP), is aiming to commit $40 million investments into digital connectivity.

With this investment, PGF will expand the rural broadband initiative phase 2 (RBI2), the mobile black spot fund (MBSF), and make broadband connectivity.

CIP plans to implement the RBI2/MBSF expansion and use the existing $105 million expansion funding to take RBI2 and MBSF as far as possible to cover rural New Zealand, to close the connectivity digital divide which will help lift productivity, create new opportunities and will support other investments.

CIP expects that the additional PGF investment to enhance broadband available to nearly every rural marae, home and business in Manawatū -Whanganui while furthering economic development opportunities.