The catastrophic floods have had a devastating impact on the farmers in north Queensland.
We know local communities and authorities are dealing with the immediate complex situation of carcass disposal, distributing fodder to graziers in need and damage assessment.
The RIC will work with the Australian Government and North Queensland Livestock Industry Recovery Agency to understand the changes the government wants to make to our mandate to enable us to offer a new loan to Queensland farmers.
Once the scope of the government changes are known we will pull out all stops to develop the settings and terms for a new loan for flood affected Queensland farmers. We will also work closely with the Rural Financial Counsellors on the ground so they can provide this information to farmers in need.
Statement can be attributed to Bruce King, CEO of the Regional Investment Corporation.
About the Regional Investment Corporation:
The Regional Investment Corporation's focus is unlocking the full potential of Australia's regions. We provide smart finance options for farmers in need, and state and territory governments for transformative water infrastructure projects. Our concessional farm business loans provide breathing space for farmers hit by events outside their control but they also present an opportunity to modernise, diversify and head in a new direction. Our loans encourage growth, investment and resilience in Australia's regional communities.
For more information visit ric.gov.au.
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