Federal drought aid now flowing

Drought affected farmers can now apply for concessional loan assistance through the Federal Government’s new $320 million drought aid package.

Minister for Agriculture, Fisheries and Forestry John McVeigh said the necessary forms for farmers to fill out were available at www.qraa.qld.gov.au 

“With 75 per cent of Queensland still affected by drought, this Federal Government assistance is needed and a welcome relief,” Mr McVeigh said.

“This funding is on top of our own support package and together they will grow a strong agriculture industry with a bright future, as we promised at the election.

“The concessional loans now available are for a term of five years with interest rate of four per cent.

“The loans will be for up to 50 per cent of eligible farm business debt, to a maximum of $1 million.

“The Federal Government has earmarked $100 million of its national package specifically for Queensland in recognition of how severe conditions are in our state.

“This funding is to support viable farming enterprises struggling while the drought persists.

“It is also to help meet business running costs and to put in place measures in preparation for future droughts.”

For access to these loans, the Federal Government has introduced a new process based on rainfall deficiencies.

Applicants must submit a valid Bureau of Meteorology Rainfall Deficiency Report as part of their application. 

The Rainfall Deficiency Report can be generated by filling in the request form at www.qraa.qld.gov.au

Bureau of Meteorology rainfall deficiency maps available at http://www.bom.gov.au/climate/rainfalldeficiencies.shtml offer a guide for producers considering the Drought Concessional Loans.

For more information on this assistance contact QRAA on Freecall 1800 623 946 or www.qraa.qld.gov.au

[ENDS] 6 June 2014

Media Contact: Lachlan Millar 0407 394 580