Deputy Prime Minister and Minister for Agriculture and Water Resources, Barnaby Joyce
The potential to increase Australia's agricultural production into the future is a step closer, with applications now open for the Coalition Government's $2 billion National Water Infrastructure Loan Facility to fund priority water projects across the country.
Deputy Prime Minister and Minister for Agriculture and Water Resources, Barnaby Joyce, said the loans would fast-track construction of the water infrastructure needed to support economic growth and prosperity, and strong and vibrant rural and regional communities.
"Our $57 billion agriculture sector already makes a massive contribution to our nation's wealth and way of life, but with the right infrastructure in the right place there is still potential to significantly grow our agricultural productivity and profitability," Minister Joyce said.
"Under the Australian Constitution state governments are primarily responsible for water management. However, I have noticed an under-investment in new water infrastructure in recent decades.
"That is why we are putting $2 billion of concessional 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.
"I urge state and territory governments to take advantage of this opportunity to get their priority water infrastructure projects off the drawing board and under construction more quickly."