Reconstruction era
Labor's $15 billion National Reconstruction Fund is poised to announce its first investments within weeks, despite the resignation of CEO Ivan Power due to health issues.
Labor's $15 billion National Reconstruction Fund (NRF) has fallen somewhat off the radar this year, with the Albanese government's broader Future Made in Australia agenda and its billion-dollar bets on solar panel manufacturing and quantum computing capturing much of the attention in both political and investing circles.
On Friday, the NRF did move back into the spotlight following the unfortunate news that CEO Ivan Power had stepped down due to ill health. And it might be set to feature in the news more prominently in the weeks ahead.
Sources close to the NRF who spoke anyonymously to discuss confidential matters told Capital Brief the manufacturing fund is on track to announce its first investments in the coming weeks — 12 months after the board was appointed and 10 months after the government declared it “open for business”.
The first round of funding is expected to support projects across the priority areas outlined in the fund’s investment mandate, including renewables and low-emission technologies, medical manufacturing, critical technologies, and value-adding in agriculture and resources.
