The Australian Government has announced 10 successful providers to receive over $56 million (GST exclusive) to deliver rural financial counselling services to farmers doing it tough from July 2021 to 2024.
Minister for Agriculture, Drought and Emergency Management David Littleproud said strong competition allowed the government to select proposals that will strengthen this trusted service and drive better outcomes for clients.
"The Rural Financial Counselling Service program has been helping primary producers in need for more than 30 years," Minister Littleproud said.
"The last round of funding alone helped more than 12,000 farmers across the country. I am pleased to continue this important investment in our rural communities.
"With drought, bushfire, floods and COVID-19, this has been one of the toughest 12 months on record for our regional communities.
"Financial counselling has played a key role in helping our farmers to weather this series of economic shocks and navigate the path to recovery.
"Today's announcement provides certainty that help is there for those struggling the most. And it is delivering extra counsellors on the ground to help any farmer in need.
"From July, the service will be refocussed to drive improved financial wellbeing at the farm level and build a more sustainable, resilient and profitable primary production sector.
"Global demand for Australia's high-quality agricultural products has continued to grow throughout the pandemic and will be at the heart our economic recovery post-COVID-19.
"Investing in our farmers' viability is investing in the future of the Australia economy."
The RFCS is jointly funded by the Australian, state and territory governments.
To view the list of successful applicants, visit awe.gov.au/rfcs.
Fast Facts:
- Since 1986, rural financial counsellors have been on the ground helping Australian primary producers in financial hardship to get back on track.
- Rural financial counsellors work one-on-one with clients by helping them to understand their financial position and take the necessary steps to get out of financial difficulty-whether it's getting the family out of financial crisis, bringing the business back to profitability or supporting a dignified exit from the industry.
- Funding has been allocated to ten service providers covering 12 predefined RFCS regions.
- The first year of the program will include $3.75 million (GST exclusive) for bushfire recovery financial counselling as part of the government's National Bushfire Recovery Fund announced in 2020. Allocation of this funding to affected regions is at the discretion of the Minister for Agriculture, Drought and Emergency Management.
