$150m fund to support Ngapuhi settlement

WELLINGTON: A $150 million investment fund is being established for New Zealand’s largest iwi, Ngapuhi, in a step towards finally reaching a settlement.

The Ngapuhi Investment Fund Ltd will be a new Crown company which will grow a portfolio of assets which can be offered to the Far North iwi in negotiations.

As well, nga hapu o Ngapuhi will be able to apply for grants for social development and governance while the Crown and iwi work towards eventually reaching a settlement.

Chief Crown negotiator for Ngapuhi and NZ Transport Agency chairman Sir Brian Roche, will chair the fund and a board will oversee the fund.

Treaty of Waitangi Negotiations Minister Andrew Little made it his priority to settle this term with nga hapu o Ngapuhi (the subtribes of Ngapuhi) which has eluded all of his predecessors.

‘‘This is a very significant development.

‘‘The scale of the fund will allow it to build a base of assets throughout the rohe and beyond that may not otherwise be available for the Crown to offer, and provides a boost in investment for Te Tai Tokerau,’’ Mr Little said.

He said the fund would give the Crown more options and ensure the subtribes did not miss investment opportunities while they worked through negotiations. — The New Zealand Herald