The Morrison government encourages state, territory and local governments to express interest in partnering with NBN Co to strengthen regional connectivity through the company’s $ 300 million regional co-investment fund.
The Minister of Communications, Urban Infrastructure, Cities and the Arts, the Honorable Paul Fletcher, welcomed the opening of the expression of interest process.
“NBN Co is interested in hearing from all levels of government on how they can work together to improve connectivity in more regional areas,” said Minister Fletcher.
“The fund will target technology upgrades that maximize economic and social benefits for regional, rural and remote Australians.”
“Businesses and communities in regional areas have growing and diversified broadband needs. This fund will build digital capacity, boost regional jobs and economic growth to help our regions prosper. “
“This $ 300 million investment in regional Australia will cost the taxpayer or the budget nothing. NBN Co will finance the program, like its other new initiatives, through its private borrowing, which is only possible thanks to the strong financial position of the company.
The co-investment fund is part of NBN Co’s $ 4.5 billion investment in network upgrades and fiber optic packages, which are expected to create around 25,000 new jobs and add more than 6.4 billion dollars in annual GDP as of 2024.