New $250m funding to build regional Australia and create jobs
The Australian Government is investing another $250 million towards the delivery of infrastructure as well as services that will help communities across the country to prosper and grow.
This significant investment is going to be provided through Round 6 of the Building Better Regions Fund (BBRF), which will fund and deliver new projects much-needed by regional communities. Applications for this round of funding has already been opened for submission.
“Regional Australians deserve the same services and opportunities that people in metropolitan cities have and the Building Better Regions Fund helps make this happen.
“That’s why we’ve committed another $250 million for projects and initiatives that will transform communities, create new jobs and drive economic growth across regional Australia.
“Backing regional communities will help secure economic recovery from the COVID-19 pandemic while ensuring regional Australians can get ahead,” Deputy Prime Minister and Minister for Infrastructure, Transport and Regional Development Barnaby Joyce said.
This round of funding builds on the $300 million that was invested in the last round of the BBRF, which delivered 298 regional projects.
Round 6 funding takes the total investment for BBRF to $1.38 billion, supporting economic and social development that regional communities can benefit from now and into the future.
“Our Government is committed to delivering the best outcomes for regional and remote Australia, which is why we are continuing to support the businesses and people who call regional Australia home,” Minister Joyce said.
For this round, there will be two streams of funding – the Infrastructure Projects Stream and the Community Investments Stream.
The Infrastructure Projects Stream will support projects that can deliver economic and social benefits to remote and regional communities, such as the construction of new infrastructure or upgrading or extension of existing infrastructure. This stream will only support projects that are investment ready.
On the other hand, the Community Investments Stream will fund new or expanded local events, strategic regional plans, or activities that will strengthen leadership and capability that can provide economic and social benefits to regional as well as remote areas. Infrastructure projects are not eligible for this stream of the BBRF Round 6.
Source: Minister for Infrastructure, Transport and Regional Development; Australian Government – Business (1, 2)
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