The Federal Government has provided a $75 million funding boost to its Regional Investment Corporation AgriStarter Loan Program to help those looking to buy or develop their first farming business. Minister for Agriculture, Drought and Emergency Management David Littleproud said individual loans of up to $2m would help newcomers to the agriculture industry buy a farm business, the necessary assets, and afford the costs of the succession planning process. “The Australian Government understands the importance of encouraging a new generation of farmers to the sector, and the AgriStarter Loan program will support this,” he said. “The loan also means that families will be able to discuss succession arrangements and plan for the future.” Minister for Finance Simon Birmingham said the program was key to helping new and developing business. “The AgriStarter loan program has been an important initiative to help farmers and small businesses get through the hard times while also supporting new farming enterprises to get off the ground,” he said. “This is about backing Australia’s next generation of farmers to grow and prosper, which also has flow-on effects throughout regional economies, which creates more regional jobs.” For more information, visit ric.gov.au.