The Albanese Labor Government is delivering a new path forward for the Future Drought Fund (FDF) to give more certainty to farmers and communities facing drought conditions.
The FDF Investment Strategy, published today, provides a roadmap of how programs will be funded and delivered during the current four-year funding cycle of the FDF.
The Productivity Commission's 2023 review of the FDF recommended an Investment Strategy document to guide participation in FDF programs.
Farmers and stakeholders were also consulted by the Department of Agriculture, Fisheries and Forestry on how the FDF could improve.
Feedback stated they wanted fewer, longer and more impactful programs, guided by a clear plan.
That's why the Albanese Labor Government is delivering a new strategy which prioritises five areas for funding:
partnering for local solutions,
- partnering for First Nations initiatives,
- building knowledge, skills and capability,
- innovating for transformation, and
- measuring progress and sharing knowledge.
The Government has committed $519.1 million over eight years from the FDF to address these priorities as part of the 2024-25 Budget.
The Future Drought Fund Investment Strategy can be read here: www.agriculture.gov.au/fdfis.
Quotes attributable to Minister for Agriculture, Fisheries and Forestry, Julie Collins MP:
"Our Government is improving the Future Drought Fund to get the very best results for farming families and communities.
"Drought is always a case of when, not if, so being prepared is vital.
"We spoke directly to farmers, and we've listened. We've also listened to the Productivity Commission, which recommended the FDF be better sequenced and consider climate change as a key driver of drying conditions and drought.
"Our funding and program design addresses these concerns, with the Investment Strategy bringing that work together in one place.
"With the new investment strategy, our farmers have more certainty on where funding is being spent and they can put their trust in a clearer, more focussed FDF."
