Establishing the $5 billion future drought fund has taken a step forward, with the first consultative committee formed.

The fund will see $100 million made available for drought resilience and preparedness every year.

Former National Farmers Federation President Brent Finlay has been appointed as the committee’s first chairman.

He’s told Macquarie’s Rural Reporter Eddie Summerfield, he’s looking forward to working with drought impacted farmers.

“I think we need to continuously look at what we do,” Mr Finlay said.

“I’ve been involved with drought policy for 15 years, through various agricultural organisations including the NFF, we’re in a wretched drought now, and for many areas the worst in living areas.”

The committee’s role will be to work with communities impacted by drought to determine what projects and initiatives are most worthy for the fund.

“We need to continue look at how we address all of those issues, we can’t prevent them, but how we can actually be more resilient,” Mr Finlay said.

The committee will meet for the first time next week.

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