Federal government ministers including Finance Minister, Katy Gallagher Minister for Finance, Women, Government Services and the Public Service, and the Minister for Agriculture, Fisheries and Forestry, Julie Collins have made a joint announcement revealing that Australian businesses can now access $6.15 billion through the government’s National Reconstruction Fund, as the Albanese Government fast‑tracks three streams of funding to get finance moving to strengthen critical supply chains.
The ministers said that this will provide Australian businesses with low‑cost, long‑term concessional finance to help them ride out global shocks and secure production, bolstering the industries that underpin the national economy.
“The Albanese Government established the National Reconstruction Fund to ensure we have a funding vehicle that was able to back secure local jobs, strengthen sovereign capability and diversify Australia’s economy when it is needed most,” Senator Gallagher said.
“This decision to fast track $6.15 billion in funding from the fund for Australian businesses will help to secure Australia’s critical supply chains, with low-cost, long-term concessional finance that supports businesses to invest, grow and adapt,” she added
The $1 billion Economic Resilience Program’s zero‑interest loans are available to businesses in critical supply chains, including those producing and transporting the fuels, plastics, fertilisers and agricultural protection chemicals that Australian farmers and manufacturers rely on every day.
The $5 billion Net Zero Fund is open to back new manufacturing investment and energy‑efficiency upgrades in hard‑to‑abate sectors, building domestic clean‑energy supply chains and supporting the manufacture of low-emissions technologies such as wind, solar and energy storage solutions – and the production of low carbon liquid fuels.
The $150 million Forestry Growth Fund is open to support timber processing for housing construction and backing investment in mills and processing facilities to move up the value chain.
The $150 million Forestry Growth Fund, along with our Government’s wider investments in the forestry industry, will deliver more secure jobs in regional Australia, better pay and higher value output,” said Minister Collins.
“The $1 billion Economic Resilience Program is an investment in more secure supply chains for Australia’s world-class farmers and producers which I know is critical,” she said.
“This investment will complement work already underway through our Government’s development of the National Food Security Strategy, and t a time of global uncertainty, the Albanese Labor Government is providing much needed confidence for our agriculture, fisheries and forestry industries through these investments,” she added.
This investment sits alongside other support and actions the Government is taking to support Australia’s domestic industries. Together, these measures are about keeping Australian production moving, protecting local jobs and building a more resilient economy in a volatile world.
Applications are now open. For more information go to www.nrf.gov.au/erp
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