On 16 January, Housing New Zealand Limited (Housing NZ), a subsidiary of Kāinga Ora – Homes and Communities (Kāinga Ora), announced a NZ$2.5 billion (US$1.7 billion) wellbeing bond programme for the 2020 calendar year. It comes after the borrowing protocol limit for Kāinga Ora increased from NZ$3.05 billion to NZ$7.1 billion.