|+ More funding for the Pacific Reset
The aid budget will increase by more than $714 million over four years
- by 30% - with the bulk of it heading to the reset in the Pacific. It's not 0.7% of GNI, but it's a lot closer at 0.28%, and the aid sector welcomed the news.
“Increased investment will enable New Zealand to deliver on our Pacific Reset
," the Minister said. CID is helping to bring together Pacific diaspora representatives, as well as CID members, to support the government to define and roll out a reset.
Instead of trying to match the money of big economies, New Zealand needed to be smarter with how it delivered its aid, and draw on its unique Pacific relationship
, says CID Director, Josie Pagani
"It's about saying that we're family, and like regional development,
it benefits us all when the Pacific is doing well,"
The reset will mean a greater focus on climate change, 'democratic resilience', gender and economic independence.
MFAT will also receive an operational expenditure increase of $150.4 million over the next four years, and an additional $40.3 million in capital expenditure.