Investment bond to help rebuild quake communities

5:27 am on 15 July 2011

A new investment bond aimed at helping Christchurch has been announced by the Prime Minister.

The Red and Black bond will provide a secure investment while helping communities to rebuild.

The bond issued by Westpac offers a 5.9% interest rate, with 0.5% donated to the Christchurch Earthquake Appeal Trust.

Prime Minister John Key says it is an opportunity for people to make a secure investment and to give back to community groups that often slip through the cracks.

A spokesperon for the trust says the money donated to the appeal will target projects that are not receiving official assistance, such as sports and cultural facilities, and community halls.

The five-year bond will be offered for three weeks from 21 July.