NSW farmers affected by drought will be able to access a bigger pool of money for low-interest loans following a $350 million injection from the state government.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
The coalition said it was increasing its farm innovation fund from $650 million to $1 billion and boosting the amount that can be borrowed from $250,000 to $1 million.
"We know that our farmers and drought-affected communities are doing it tough, which is why we are doing everything we can to make sure they have every support they need," Premier Gladys Berejiklian said in a statement on Wednesday.
Almost $300 million worth of loans have already been requested, helping more than 1700 farmers drought-proof their properties by funding works such as new cattle yards, solar power systems, silos and bore water systems.
Australian Associated Press
