Australian Government Launches $1 Billion Economic Resilience Program

The Australian Government has commenced the $1 billion Economic Resilience Program (ERP), delivered by the National Reconstruction Fund. The program is run in partnership with participating banks, including National Australia Bank (NAB).

Program Details and Eligibility

The program provides zero-interest loans to eligible Australian businesses. Eligibility is for businesses that have been materially impacted by market disruptions related to the current conflict in the Middle East.

"We’re hearing directly from customers about the impact higher fuel, energy, and operating costs are having on day‑to‑day business decisions."

Industry Impact

NAB Group Executive for Business and Private Banking, Andrew Auerbach, stated that many businesses in manufacturing, transport, logistics, and related supply-chain industries have been navigating significant cost pressures in recent months.