About LGFA

The New Zealand Local Government Funding Agency (LGFA) is a Council-Controlled Organisation (CCO) operating under the Local Government Act 2002.  LGFA specialises in financing the New Zealand local government sector, the primary purpose being to provide more efficient funding costs and diversified funding sources for New Zealand local authorities and council-controlled organisations.  LGFA was established to raise debt on behalf of local authorities on terms that are more favourable to them than if they raised the debt directly.


LGFA governance structure comprises the New Zealand Government (20%) and thirty councils (80%), the LGFA Shareholders Council and the LGFA Board of Directors.

Risk Management

The Local Government Funding Agency (LGFA) funds itself through domestic and international wholesale and retail debt capital markets, with the funds raised on-lent to participating borrowers, being New Zealand local authorities and council-controlled organisations.