The Albanese Government has announced a $US3 billion Defence Industry Growth Facility to help Australian defence businesses expand, compete globally and strengthen sovereign capability. The facility will offer loans, bonds, guarantees and equity for export opportunities, facility upgrades and capabilities aligned with Defence priorities. Replacing and broadening the Defence Export Facility, it will support self-reliance while providing more flexible, timely finance, particularly for small and medium enterprises.
Designed to attract private investment and complement other Commonwealth financing programs, the facility will be administered by Export Finance Australia through the National Interest Account. Trade Minister Don Farrell said the initiative would support national security, jobs and businesses. Defence Industry Minister Pat Conroy said it would unlock innovation, export-led growth and faster production of home-grown capability for a Future Made in Australia.
Read more about the Defence Industry Growth Facility announcement