The Future Drought Funding Plan has been tabled in Parliament, outlining how the proceeds of the Fund can be spent.
Minister for Drought, David Littleproud said the plan would direct money to be used in ways that build drought resilience and preparedness while boosting farm production and profits.
“This will make sure the Future Drought Fund gets the best bang for buck,” Mr Littleproud said.
“The plan lays out the principles for the projects we’ll back,” he said.
“It also sets out how we should strengthen long-term drought resilience in rural communities.”
Chair of the Future Drought Fund Consultative Committee, Brent Finlay, said the Plan was a framework for considering appropriate drought resilience projects and reflected the findings of a public consultation during which 690 members of the public had their say.
“During our six weeks on the road the Committee heard from many farmers, regional natural resource managers, researchers, industry groups, banks and charities at many locations around the country,” Mr Finlay said.
“Each region had their own stories to share about how they thought the Drought Resilience Funding Plan could guide the development of programs that would lift agricultural productivity and build drought resilience.”
Mr Littleproud said the Future Drought Fund would provide $100 million every year from July 2020 for new investment in drought resilience and preparedness.
