Grants Update – NSW Farmers Drough Ready and Resilient Fund
Drought Ready and Resilient Fund Announced
The NSW Government has committed $250 million to establish the Drought Ready and Resilient Fund (DRRF), an initiative designed to bolster the resilience of NSW farmers to future adverse weather events and climatic conditions, such as drought.
Through the DRRF, eligible primary producers can apply for a low interest loan of up to $250,000 which can be repaid over a period of 5 or 10 years.
The loan can be used to fund a broad range of products, activities and services, including:
- the purchase and transportation of fodder and water
- livestock feeding equipment
- veterinary and animal welfare professional services
- genetic banking
- fencing and containment pens
- shade structures
- planting of trees
- farm income diversification projects
- pest and weed control
- solar power conversion
- soil conservation and earthworks
- training and development
- infrastructure repairs and maintenance
- the purchase and installation of new on-farm infrastructure.
The Drought Ready and Resilient Fund loan will be administered by the NSW Rural Assistance Authority (RAA). Program guidelines have been attached.
Applications will open at 10am on Friday 1 December 2023.
In addition, the NSW Government has confirmed that the Farm Innovation Fund is being refocused and will now be known as the Drought Infrastructure Fund. Under the Drought Infrastructure Fund, eligible producers can still apply for a loan up to $1 million with a 2.5% fixed interest rate and a 20-year repayment period.
We are compiling an updated client list to assess client eligibility and/or interest in the above, and will reach out in due course.
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