STATE drought assistance has been boosted by $284 million.
Almost all of NSW is in a dry period, which is expected to continue throughout the winter and potentially spring.
Premier Gladys Berejiklian, visited this week to announce increased financial support.
“We know the drought is hitting our farmers hard but we want to reassure communities that we are doing everything we can to make sure the right help is available at the right time,” MsBerejiklian said.
We know the drought is hitting our farmers hard but we want to reassure communities that we are doing everything we can to make sure the right help is available at the right time.Gladys Berejiklian
“To date, the Farm Innovation Fund has delivered $220 million to more than 1300 farmers to help build on-farm infrastructure, and prepare for and battle drought.
“Our farmers are continuing to tell us that these loans are one of the best measures available, which is why we have decided to double the funding available, taking the Fund’s total value to $500 million.” The NSW Government will also expand the criteria of the fund to deliver $50,000 seven-year interest free loans to allow producers to bring in fodder and grain to sustain stock on hand, as well as install key water infrastructure.
As the pressure to destock continues, the Fund will be extended to enable producers to collect and store genetics of their herd or flock, which will allow for a much quicker recovery when good times return. The budget will also include more than $4 million to support communities facing natural disaster and drought.