RIC (Regional Investment Corporation) today welcomed the announcement by Prime Minister Anthony Albanese and Minister for Agriculture, Forestry and Fisheries, Julie Collins to support the growth, resilience and sustainability of the Australian agricultural sector with an additional $1 billion in new loan funding to be delivered by RIC.
Through this investment, the Australian government seeks to continue to provide access to concessional lending, as well as broaden the future scope of RIC in the following areas:
- The recently announced Significant Ecological Events Assistance product
- Assistance to improve climate resilience, boosting sector productivity, and supporting agriculture to be part of Australia's net zero transition.
RIC Chief Executive Officer, John Howard advised this announcement confirms the ongoing commitment of the Australian Government to the RIC beyond 30 June 2026 as a low-cost loan provider, delivering funding to support farm businesses and farm-related small businesses in tough financial times.
"This is welcome news for RIC and our customers who have certainty of continued new loan funding into the future," Mr Howard said.
"Our loans help good farmers hit by tough times, providing improved cash flow to manage through drought and other unforeseen business disruptions outside of their control. This breathing space enables them to plan, fund risk mitigation activities and adapt practices to be ready and prepared for potential future impacts.
"Our RIC team is committed to the delivery and ongoing management of Australian Government concessional loans to strengthen farmers, farm-related small businesses and to build thriving regional communities.
"RIC is looking forward to continuing to work with the Government, stakeholders, our valued customers and the community to deliver on the new broadened scope to make a valuable difference," he said.
In the seven years since RIC was established on 1 July 2018, it has settled over 3,400 loans for Australian farmers valued at more than $3.63 billion as at 31 July 2025.
