KiwiSaver providers are pledging to use some of their money to provide affordable housing. Caresaver and Generate say they will back the Community Finance scheme, which seeks to raise $100 million to build new affordable housing this year. The KiwiSaver providers will earn a return for their investors by investing in community finance bonds, with their money being used to develop affordable, and social housing. KiwiSaver provider ANZ is also involved, though the money coming from the bank will be invested by its sustainable finance division, not its KiwiSaver scheme. Supplied The Salvation Army's new community housing development in Westgate, west Auckland.

Source: Stuff March 09, 2021 02:32 UTC