The National Reconstruction Fund (NRF) Corporation’s Board met for the first time on Monday, 18 September, officially launching the corporation that will help enhance Australia’s local manufacturing capabilities.
The $15 billion NRF marks Australia’s largest investment in boosting the nation’s manufacturing capacity. It aims to bolster Australia’s ability to capture value-adding opportunities, establish secure jobs, and support the commercialisation of Australian innovation and technology.
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, which are: renewables and low emissions technologies; medical science; transport; value-add in the agriculture, forestry and fisheries sectors; value-add in resources; defence capability; and enabling 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,” said Minister for Industry and Science Ed Husic.
“Our government is ambitious for the NRF Board to deliver great things for Australian industry and manufacturing.”
The board convenes eight independent Board members with the skills needed to strengthen Australian manufacturing and industrial capabilities, Minister Husic noted.
The Federal Government announced the members of the board for the $15 billion fund in August and unveiled Martijn Wilder, founder and CEO of Pollination, as its chair.
