New Zealand government to set up $112 million social investment fund

New Zealand's Finance Minister Nicola Willis walks on the day she briefs media on the government's budget, at parliament buildings in Wellington, New Zealand, May 30, 2024. REUTERS/Lincoln Feast/File Photo

SYDNEY (Reuters) -The New Zealand government said on Thursday it would set up a new NZ$190 million ($112 million) social investment fund in its 2025 budget to make targeted investments designed to help improve the lives of its vulnerable people.

Finance Minister Nicola Willis said the fund will invest in 20 initiatives over the next year, with a tracking system built into the programmes to check its impacts.