The NRF will provide finance for projects that diversify and transform Australia’s industry and economy. By establishing the NRF the government is helping to secure Australia’s future prosperity and driving sustainable economic growth.
A strong and diverse economy underpins the government’s commitment to creating more sustainable, high-value jobs for all Australians.
The NRF will provide finance to projects in priority areas to leverage Australia’s natural and competitive strengths.
The NRF will provide a range of finance options including:
- equity investment
This will ultimately help Australian industry move up the value chain to:
- become more productive
- take advantage of opportunities in a net zero economy
- address supply chain vulnerabilities.
Priority funding areas
The NRF will diversify and transform Australia’s industry and economy through targeted investments in the following priority areas:
- renewables and low emissions technologies
- medical science
- value-add in the agriculture, forestry and fisheries sectors
- value-add in resources
- defence capability
- enabling capabilities.
How the NRF will operate
The NRF will be an independent financier that operates commercially to deliver a positive rate of return.
It will be governed by a board who will make independent investment decisions guided by an investment mandate.
The NRF will finance projects that align with the 7 priority areas to leverage Australia’s natural and competitive strengths.
The government has identified $8 billion of the NRF’s $15 billion for the following areas:
- up to $3 billion for renewables and low emissions technologies
- $1.5 billion for medical manufacturing
- $1 billion for value-adding in resources
- $1 billion for critical technologies
- $1 billion for advanced manufacturing
- $500 million for value-adding in:
The government will work with industry to develop co-investment plans that identify high-level investment opportunities and broader reforms to support growth across priority areas.
Consultation and engagement
Consultation on the NRF’s key design elements and implementation approach will be happening soon.
The government is keen to hear from:
- state and territory governments.
The government is working to establish the NRF as quickly as possible.
We will continue making timely updates to this website.