WELLINGTON, May 9 (Xinhua) -- New Zealander's new standalone Social Investment Agency will lead the development of social investment across the government, driving positive change for the most vulnerable, Social Investment Minister Nicola Willis said on Thursday.
A Social Investment Fund, managed by the Social Investment Agency effective from July 1, was also established to directly commission outcomes for vulnerable New Zealanders, Willis said.
The fund will begin investing in 2025, and over time it is expected to grow in partnership with other funders to deliver at a significant scale with a wide portfolio of investments in social services, she said.
There is the lack of appropriate support for the most vulnerable New Zealanders reflected in rises in welfare dependency, declining school attendance and achievement, poorer health outcomes, rising rates of youth and violent crime, rising gang membership, as well as increasing rates of inequality, Willis said.
Despite the current government investment of more than 70 billion NZ dollars (41.96 billion U.S. dollars) every year into social services, "we are not seeing the outcomes we want for all New Zealanders," she added. ■
