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$5 billion drought fund

Future proofing communities from drought is the basis for a new $5 billion fund.

It’s been announced ahead of today’s drought summit in Canberra.

The Future Drought Fund will be used to provide community services, research and assist in the adoption of technology.

It will also pay for advice and infrastructure to support long-term sustainability when drought strikes.

This funding will be available from 2020, through an initial $3.9 billion, before growing to $5 billion by 2028.

Additionally, close to $100 million in immediate drought relief measures has been unveiled.

The money will be allocated to mental health services, charities and emergency water infrastructure in regional communities.

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