Individual projects’ financial performance

In the third year, the conservation and tourism projects have advanced all IVL investment priorities:

• to target areas of cultural and historic significance
• the restoration and protection of New Zealand’s unique biodiversity, upgrades to existing tourism destinations
• transformational technologies.

Projects progressed well against their milestones despite delays caused by the COVID-19 pandemic.

New projects approved

4 new projects were approved during the 2021 to 2022 financial year, all from the tourism portfolio.

1. TRENZ Connect — $1.55m over 2 years was approved to support an online platform to connect domestic buyers with international sellers and provide working capital for TRENZ 2023.
2. I-SITES Network — $2.975m over 4 years was approved to upgrade Aotearoa New Zealand’s i-SITE network.
3. Freedom Camping vehicle register —$1.900m over 1 year was approved to enable the Plumbers, Gasfitters and Drainlayers Board to establish a national register of self-contained vehicles, as required by the Self-Contained Motor Vehicles Legislation Act 2023.
4. RTNZ destination management capability —$0.600m over 2 years was approved for Regional Tourism New Zealand (RTNZ) to develop destination management capability in regional tourism organisation staff.

The following tables provide an overview of the budgeted and actual funding of each IVL project.

Table 2: Conservation fundings committments by project as at 30 June 2022 ($)

Table 3: Tourism funding committments by project as at 30 June 2022 ($)

New projects approved in the 21/22 financial year

Footnotes

[4] After a review at the end of FY 20/21, the project was halted with all remained funding returned to the IVL Fund.

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