The independent entity steering the $15 billion National Reconstruction Fund has racked up $8.7 million in expenses before making a single investment, as it approaches a one-year anniversary with little to offer industry.
The costs have been accruing for 11 months as the new corporation tries to sort through more than 300 applications to ensure the loans and equity investments it disperses go to commercially sound projects that can transform the economy.
But the perceived slow roll out of the National Reconstruction Fund (NRF) first promised in 2022 and legislated in early 2023 has frustrated industry and opened the Albanese government to criticism.
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