GrainGrowers today welcomes the Australian Government’s renewed commitment to the Regional Investment Corporation (RIC), with the Federal Government committing an extra $1 billion in new loan funding beyond June 2026, acknowledging the vital role the RIC plays in supporting Australian agriculture through tough times.
GrainGrowers CEO, Shona Gawel, said: “We commend the Government for recognising the importance of the RIC and committing further funding beyond June 2026. This is an essential step toward ensuring Australian grain producers have access to the financial tools they need to thrive in a changing climate and competitive global market.”
In addition to the Government’s commitment to further funding, the Government has also signalled that it will support the broadening of RIC’s loan scope to include assistance for improving climate resilience, boosting sector productivity, and supporting agriculture to be part of Australia’s net-zero transition.
GrainGrowers has long advocated for the expansion of the RIC’s loan scope to reflect the evolving needs of the sector. While further detail is awaited on how the expanded scope will be operationalised, GrainGrowers emphasises that any broadening of RIC’s remit must ensure that existing drought resilience products are not diluted.
“The RIC’s drought loan has been a cornerstone of resilience for many growers. As new priorities are added, it’s essential that the funding envelope grows accordingly.”
“We look forward to working with government to ensure the RIC continues to deliver targeted, high-impact support across the sector,” Ms Gawel said.
GrainGrowers will continue to engage with stakeholders to ensure the expanded RIC framework is fit-for-purpose, transparent, and responsive to the needs of grain producers nationwide.