Drought-impacted farmers in the regions are urged to consider applying for low-interest loans under the Nationals in Government’s Farm Innovation Fund, following news the Fund will be boosted to $1 billion.
NSW Nationals Member for Tamworth Kevin Anderson said farmers from Barraba to Bendemeer, Nundle to Nowendoc, Werris Creek to Walcha and Tambar Springs to Tamworth would be eligible for low-interest loans of up to $1 million.
“This is great news as the loans can help address risks identified by farming enterprises, to improve permanent farm infrastructure, ensure long-term productivity and sustainable land use and prepare for challenging seasonal conditions,” Mr Anderson said. “Considering the tough year farmers in our region are facing, this is a welcome boost from the NSW Government. We know that 2018-19 has been one of the driest years on record, which is why it’s important our farmers know that supporting them is a top priority.”
“We want this fund to ease some of the financial pressure on farmers when it comes to enduring these adverse conditions they’ve faced in the region over the last year.”
“The Farm Innovation Fund has already helped hundreds of farmers in areas like Walcha and Gunnedah for example, funding capital works like new cattle yards, solar power systems, silos and bore water systems,” Mr Anderson said. “Conditions still aren’t improving for farmers and we haven’t forgotten how important they are to our State’s economy. We know our farmers are among the best in the world, however we also know that it’s crucial we continue to support them to continue to improve their businesses, even during these adverse conditions.”
KEY CHANGES INCLUDE:
- providing an additional $5 million for emergency water supplies to ensure towns have access to safe and reliable water;
- increasing the amount farmers can claim on Drought Transport Subsidies from $30,000 to $40,000; and
- providing an additional $2 million to connect people to support services through the Rural Resilience Program.