National Water Infrastructure Loan Facility: $2b on tap for dams
STATE governments now have access to a $2 billion concessional loans scheme dedicated to building water infrastructure such as dams and pipelines.
STATE governments now have access to a $2 billion concessional loans scheme dedicated to building water infrastructure such as dams and pipelines.
The National Water Infrastructure Loan Facility — which formed the centrepiece of the agriculture portfolio in last year’s federal Budget — is now open for applications.
Agriculture and Water Minister Barnaby Joyce said the fund was designed to encourage states to fast-track construction of key water projects.
“I have noticed an under-investment in new water infrastructure (by the states) in recent decades,” Mr Joyce said.
“That is why we are putting loans on the table for the states and territories to partner with us in delivering the water infrastructure needed to help our agriculture sector reach its full potential.”
Loans up to 50 per cent of the project cost will be available, to be repaid over 15 years.
Private companies will not be eligible under the 10-year scheme, but consortiums of state governments and the private sector will be considered.
The scheme complements the $500 million National Water Infrastructure Development Fund, announced in the agricultural white paper.
To speed up projects, loan applications received before March 16 will be assessed before the end of financial year.
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