Putting the Future Drought Fund to work
- Future Drought Fund returning $100 million a year for drought-preparation
- Drought Resilience Funding Plan sets priorities for spending the dividend
- 690 members of the public had their say on how to use the fund
The Drought Resilience Funding Plan has been tabled in Parliament outlining how the proceeds of the Future Drought Fund can be spent.
Minister for Drought David Littleproud said the plan directs money to be used in ways that builds drought resilience and preparedness while boost farm production and profits.
“This will make sure the Future Drought Fund gets the best bang for buck,” Minister Littleproud said.
“The plan lays out the principles for the projects we’ll back.
“It also sets out how we should strengthen long-term drought resilience in rural communities.
“This reflects the advice of the independent Future Drought Fund Consultative Committee after an extensive public consultation.”
Chair of the Future Drought Fund Consultative Committee, Brent Finlay, said the Plan is a framework for considering appropriate drought resilience projects and activities.
“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.”
Interested parties can find out more and register their interest in the Future Drought Fund here: https://haveyoursay.agriculture.gov.au/future-drought-fund
¢ The Drought Resilience Funding Plan provides a coherent and consistent approach to drought resilience programs.
¢ The Future Drought Fund began at $3.9 billion with earnings to be reinvested until the balance reaches $5 billion. It will provide $100 million every year from July 2020 for new investment in drought resilience and preparedness.