The Australian Government’s National Reconstruction Fund Corporation (NRF) is up and running, with legislation commencing today and its independent Board meeting for the first time.
The NRF Board will make independent decisions to provide loans, guarantees or equity to Australian-based investments in seven priority areas of the Australian economy.
The NRF will enhance Australia’s resilience by strengthening local manufacturing capabilities, improve Australia’s ability to capture value adding opportunities, create secure jobs and support the commercialisation of Australian innovation and technology.
Industry and Science Minister, Ed Husic, will join the NRF Board as a guest for its first meeting.
Minister Husic said the Australian Government is ambitious for the NRF Board to deliver great things for Australian industry and manufacturing.
“As of today, the NRF Corporation is officially up and running,” he said.
“Each of the eight independent Board members bring the skills needed to strengthen Australian manufacturing and our industrial capabilities.
“The government has brought together a strong mix of skills and experiences from all parts of the nation to help ensure the NRF delivers for Australians.”