Here's the headline which might have been accurate if the money was a grant.
Auckland ratepayers to hand NZTA $100 million loanWe are not told what interest rate applies to the loan and one can presume it will not be interest free. Of course this story begs the question of how it comes to pass that Auckland City Council just happens to have a spare hundy mil sitting about ready to be lent on the commercial market.
Rates a bit too high perhaps?
I doubt some of these TVNZ journalists who shill for Labour could make a living selling used cars.