The Government has allocated $300 million in a bid to accelerate the Canterbury earthquake recovery in this year's Budget.
Minister for Greater Christchurch Regeneration Megan Woods made the announcement on Thursday, saying an independent insurance claims tribunal and an Earthquake Commission inquiry would also be established.
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"For seven years, the recovery in Canterbury was too slow and uncoordinated - especially with the anchor projects in the central city," she said.
Labour pledged the money before last year's election, and says the funding shows what the Christchurch people want.
"This fund is being guided by what the people of Christchurch want. While all the projects will of course need satisfactory business cases, we are not making Canterbury decisions from Wellington.
"Local decision-makers will be front and centre because they know what's best for Christchurch.
"This is a much-needed shot in the arm for the Canterbury recovery, and will help deliver projects that will make a huge difference for local people."
The Christchurch City Council will be able to apply through the fund to complete projects.
The funding is made up of $298.5 million of capital for an acceleration fund, along with an operating funding of $500,000 and a extra $1 million for administration.