NSW Farmers are calling on the Government to continue low-interest loans to support farmers.
Farmers warn the Federal Government must not let drought support dry up as conditions continue to deteriorate across south and western NSW.
On Monday NSW Farmers joined calls to extend Federal Government funding for the Regional Investment Corporation (RIC) to ensure farmers could continue to access low-interest loans to support through drought conditions, recovery and other challenges.
Brocklesby farmer and NSW Farmers Grains Committee Chair Justin Everitt said the RIC currently only had funding to continue writing new loans until June 2026, leaving hundreds of farm businesses facing an uncertain future.
“At this stage, we’ve got less than a year left for this vital tool, and after that, farmers will be left high and dry on drought support,” Mr Everitt said.
“An independent review recommended RIC loans remain accessible, but the Federal Government hasn’t responded to this, and it’s simply radio silence on what the future of this tool will be.
“RIC loans have enabled thousands of farming families to not only keep operating through drought and other difficult times, but come out stronger on the other side – and we need practical tools like this to stick around.”
NSW Farmers urged the Federal Government to respond to the independent review of the RIC and extend funding for the service as soon as possible. Completion of a review into the Future Drought Fund’s Drought Hubs was also essential, Mr Everitt said, to ensure the hubs could be fit for purpose and increase drought resilience.
“Aussie farmers are well versed in drought and how to manage it on-farm, but having the tools and services we know have helped us through past droughts is essential,” Mr Everitt said.
“At the end of the day, farmers should be able to know what they can rely on, and know they’re not alone in all this too.”