The Albanese Labor Government is supporting the growth, resilience and sustainability of Australia\u2019s agricultural sector, with an additional $1 billion in new loan funding through the Regional Investment Corporation (RIC).<\/p>\n\n\n\n
RIC administers support for farmers facing hardship with concessional loans for farm businesses and drought-affected farm-related small businesses.<\/p>\n\n\n\n
This new funding will ensure farmers can continue to access concessional lending to improve their long-term resilience and profitability \u2013 and brings total support for the agriculture sector through RIC loans to over $5 billion.<\/p>\n\n\n\n
The Government will also support the broadening of RIC\u2019s loan scope to include assistance for improving climate resilience, boosting sector productivity, and supporting agriculture to be part of Australia\u2019s net zero transition.<\/p>\n\n\n\n
This additional $1 billion in new loan funding demonstrates the Albanese Labor Government\u2019s commitment to RIC beyond 30 June 2026.<\/p>\n\n\n\n
This will provide certainty around RIC funding and concessional lending for Australia\u2019s farmers while the Government finalises the full response to the Review of the operation of the Regional Investment Corporation ACT 2018.<\/p>\n\n\n\n
To date, over 3,400 loans have been supported through RIC, with more than $3.6 billion in settled funds providing direct on-farm benefit.<\/p>\n\n\n\n
These new commitments build on the Albanese Labor Government\u2019s rural support and drought resilience funding which has helped Australian farmers to prepare, adapt and respond to a range of hardships and issues including drought.<\/p>\n\n\n\n
\u201cI have seen firsthand the toll that extreme weather events like drought take on regional communities.<\/p>\n\n\n\n
\u201cThat is why my Government is backing our farmers who are doing it tough by continuing the Regional Investment Corporation.<\/p>\n\n\n\n
\u201cThis is about helping farmers to manage cost pressures and free up cash flow so they can continue producing the products we all rely on.\u201d<\/p>\n\n\n\n
\u201cThe funding we are announcing today underscores our Government\u2019s enduring commitment to supporting Australian farmers who are facing hardship.<\/p>\n\n\n\n
\u201cWe are committing to concessional loans over the long-term to give farmers certainty that there will always be support available, including those impacted by drought.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The Albanese Labor Government is supporting the growth, resilience and sustainability of Australia\u2019s agricultural sector, with an additional $1 billion in new loan funding through the Regional Investment Corporation (RIC). RIC administers support for farmers facing hardship with concessional loans for farm businesses and drought-affected farm-related small businesses. This new funding will ensure farmers can … Continue reading “$1 billion funding boost for Regional Investment Corporation”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-34582","post","type-post","status-publish","format-standard","hentry","category-aussie"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/34582","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=34582"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/34582\/revisions"}],"predecessor-version":[{"id":34583,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/34582\/revisions\/34583"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=34582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=34582"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=34582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}