Joint media release with the Prime Minister Anthony Albanese MP and Minister for Finance, Senator Katy Gallagher
The Albanese Government has introduced legislation to Parliament to establish the $15 billion National Reconstruction Fund, a key election commitment.
The National Reconstruction Fund (NRF) will support, diversify and transform Australia’s industry and economy, helping to create secure, well-paid jobs, securing future prosperity, and driving sustainable economic growth.
It will invest across seven priority areas of the economy: renewables and low emission technologies; medical science; transport; value-add in agriculture, forestry and fisheries; value-add in resources; defence capability; and enabling capabilities.
The NRF is modelled on Labor’s successful Clean Energy Finance Corporation. It will be governed by an independent board making independent investment decisions.
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It will be able to invest through a range of financing including loans, equity and guarantees.
The Government has today begun public consultation to further define the scope of the seven priority areas for investment and how the fund will make investment decisions.
More information, including a consultation paper, is available on the Department of Industry, Science and Resources consultation hub.
The Hon Ed Husic, MP Minister for Industry and Science