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Australia launches drought and fishery loans up to $250K with deferred repayments, starting 2026.
The Australian government has introduced two new concessional loans through the Regional Investment Corporation (RIC) to aid farmers and fishers affected by prolonged drought and algal blooms, with funding up to $250,000 and two years of deferred repayments.
The Drought Hardship Loan targets those impacted for at least 24 months, while a separate loan supports South Australian fishers hit by marine heatwaves and blooms.
Both are set to launch in early 2026, backed by $1 billion in new funding and a six-month freeze on the 5.18% interest rate.
RIC has approved over 3,500 loans totaling $3.74 billion since 2017, with officials citing the new programs as key to building resilience.
Australia lanza préstamos para la sequía y la pesca de hasta $250K con reembolsos diferidos, a partir de 2026.