The Morrison Government is encouraging state, territory and local governments to express their interest in partnering with NBN Co to boost regional connectivity as part of the company’s $300 million Regional Co-investment Fund.
Minister for Communications, Urban Infrastructure, Cities and the Arts, the Hon Paul Fletcher MP, welcomed the opening of the expression of interest process.
“NBN Co want to hear from all levels of government on how they can work together to bring improved connectivity to more regional areas,” Minister Fletcher said.
“The fund will target technology upgrades that maximise economic and social benefits for regional, rural and remote Australians.”
“Businesses and communities in regional areas have growing and diverse broadband needs. This fund will enhance digital capability, stimulate regional jobs and economic growth to help our regions thrive.”
“This $300 million investment in regional Australia will come at no cost to taxpayers or the Budget. NBN Co will fund the program, like its other new initiatives, through its private debt raising, something only possible due to the strong financial position of the company.”
The co-investment fund forms part of NBN Co’s $4.5 billion investment in network upgrades and business fibre packages, which are expected to create around 25,000 new jobs and add more than $6.4 billion to annual GDP from 2024.