Westpac NZ Becomes First Bank to Accept Zespri Shares as Lending Security
Westpac NZ has become the first New Zealand bank to receive approval from the Reserve Bank of New Zealand (RBNZ) to secure and leverage kiwifruit growers' Zespri shares.
President, Neil Trebilco, says this boost to seasonal workers is essential in delivering the industry's forecasted future growth.
"The kiwifruit industry is recovering quickly from Psa and is poised for big future growth," Trebilco says. "Over the next few years we are going to see a significant increase in Gold3 volume. By the 2017/18 season, growers will be producing up to 40% more fruit and its essential plans are in place now to support this additional volume by providing extra resources right throughout the supply chain.
"Together with HortNZ, Pipfruit NZ and NZ Wine Grape Growers, NZKGI has been urging Government to increase the cap of 8000 RSE workers, and the decision shows their commitment to the future growth of our industries. We're really pleased with the outcome."
NZKGI will work closely with the Government on behalf of New Zealand kiwifruit growers to both ensure Kiwis have the best opportunity for seasonal work; plus continue ongoing support for the RSE scheme.
