The National Reconstruction Fund Corporation Bill has passed through the Parliament.
The Bill establishes the National Reconstruction Fund (NRF) Corporation as a corporate Commonwealth entity modelled on the Clean Energy Finance Corporation.
The NRF Corporation will provide finance in the form of debt and equity for projects in priority areas to diversify and transform Australia’s industry and economy. It will be governed by a board who will make independent investment decisions guided by an investment mandate.
NRF investment will help grow Australia’s industrial capabilities, improve value-adding manufacturing opportunities and create secure jobs.