Westpac NZ and Pāmu claim they have signed New Zealand’s most comprehensive Sustainability-Linked Loan to date, also the largest in the agricultural sector, and the first involving a state-owned enterprise.
Cameron Walker, Pāmu's business manager in the district, says as the flood waters recede the full extent of the damage is becoming more obvious. He says it is clear that some farmers have suffered significant stock losses and damage to the infrastructure on their farms.
Pāmu owns seven dairy farms at Cape Foulwind, just 10km west of Westport on a sandy headland. According to Walker, the farms were virtually unscathed by the floods. He says this was mainly due to the location of the farms, which are away from the river and also on higher ground.
Walker told Rural News that the company's stock are safe and well but there will be some clean-up work to be done. However, some of their staff - who have houses in Westport - have been affected by the floods and the company is supporting those staff.
"But a lot of our staff are working with the Rural Advisory Group (RAG) which is coordinating the recovery. We have been helping to dispose of dead animals and other clearn-up work, given that we have equipment to do some of this work."
Walker says Pāmu also has some spare accommodation at some of its 18 farms on the West Coast and these are being made available to people who have been left homeless by the devastating floods.