New Zealand Seeks Financial Support

In the wake of the recent cyclone, New Zealand has begun an international fundraising campaign to aid in the country's recovery.

When Cyclone Gabrielle ripped through New Zealand's north earlier this month, claiming eleven lives and driving thousands of others into shelters, the government has decided to launch an international fundraising appeal to pay for the vast rehabilitation work that must be done.

According to Prime Minister Chris Hipkins on Monday, the appeal would seek financial support from rich expats, corporations, and anybody with a soft spot for New Zealand. He also noted that Meta, the company behind Facebook, has promised to help spread the word about the request.

During a press conference introducing the campaign, Hipkins stated:

"One of the things we know from past events is that there are people abroad with very strong connections to New Zealand who want to be able to make a contribution."

The call will be based on the successful fundraising effort in the wake of the 2011 Christchurch quake, which brought in more than $57.94 million.

On February 12, Cyclone Gabrielle ripped into New Zealand's North Island, damaging roads and bridges and knocking out electricity to tens of thousands of people across a third of the nation. Four persons remain unaccounted for as police continue their search. Cyclone-affected areas will remain under a national state of emergency, the third such declaration in the country's history.

Hipkins said that "all the possibilities" were being considered by the government in order to fund the anticipated billions in expenditures for rebuilding.

As the New Zealand central bank hiked interest rates to their highest level in 14 years and signalled additional rises in the future, the government came under pressure to avoid overspending that may aggravate inflation.

 

Source: reuters.com