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Readiness and resilience

Menindee in drought

The states agriculture industry is set for a boost with the state government creating a $250 million fund to invest in readiness and resilience, aptly named the Drought Ready and Resilient Fund (DRRF).

Through the fund, eligible producers will be able to apply for low interest loans of up to $250k to fund a range of operational services and activities to both prepare and respond to the impacts of drought.

Along with the Drought Infrastructure Fund, which is designed to promote capital investment, it is a boon for those involved in the industry as they are also eligible to apply for loans of up to one million dollars at a low interest rate of just 2.5%.

Stephen Lawrence, Duty MLC for the Barwon Electorate, claims it is proof of the Minns governments commitment to rural and regional areas.

“This is a great initiative which shows that the NSW Labor Government is fully committed to rural and regional areas, and to ensuring that our farmers have access to the funds required to be prepared to tackle the next drought,” Mr Lawerence said.

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The Premier himself called the fund a significant investment in farmers across the state. A stance backed up by Minister for Agriculture, Tara Moriarty.

“We know that NSW does not thrive unless our regions and agricultural industries thrive.

“We know disaster prepared is more important than ever before. This is a commonsense initiative that allows farmers to get ahead of the dry season and protect their livelihoods,” Mr Minns said.

“The aim of this Government initiative is to give farmers access to operational funding so they can get assistance to work through a challenging period,” Minister Moriarty said.

“We will continue to monitor the drought indicator closely and ensure that farmers receive the support they need.”

Applications for the DRRF open at the beginning of December. To get more information, or to apply for the low interest rate Drought Infrastructure Fund loan, head to https://www.raa.nsw.gov.au/.

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