Australia’s new International Development Policy and Development Finance Review

  • Joint media release with:
  • The Hon Pat Conroy MP, Minister for International Development and the Pacific

The Albanese Government's new international development policy will advance Australia's interests in a peaceful, stable and prosperous Indo-Pacific and ensure we are a partner of choice for our region.

The new long-term policy – the first in almost a decade – will drive the Government's aid investments in tackling regional challenges like poverty, economic growth, healthcare, infrastructure investment, climate change and gender equality.

It will deliver a development program that is effective, responsive, transparent and accountable: fit for the challenges and opportunities of our times.

Australia will invest more in locally-led solutions, creating local jobs and economic opportunities and building genuine, respectful partnerships. A new fund will be established to provide direct support to community organisations in the region and drive local development outcomes.

The Government's commitment to gender equality and climate action will be at the heart of the development program. New targets will ensure Australian development assistance tackles climate impacts and improves the lives of women and girls.

The new policy will underpin the Government's record international development investments, which are delivering $1.7 billion in new spending over five years and a commitment to long-term growth of the development program.

A new performance and delivery framework will guide the implementation of the new policy and measure the effectiveness of our efforts.

The Government will also improve development skills and expertise in the Department of Foreign Affairs and Trade, after nine years of Coalition cuts and neglect.

At the same time, the Government has released the Development Finance Review, conducted by the Department of Foreign Affairs and Trade, accepting all eight recommendations.

This will boost the Government's partnerships with impact investors and philanthropists, encouraging greater flows of private finance towards development outcomes in the Indo-Pacific.

As recommended by the Review, the Government will establish Australian Development Investments, a new vehicle providing up to $250 million as a catalyst for private impact investment in the Indo-Pacific.

The new development policy and Development Finance Review were informed by extensive consultations in Australia and across the Indo-Pacific. We thank all who participated for their important contributions.

They are part of the Albanese Government's commitment to rebuild and revitalise Australia's development program to ensure our aid investments are delivering a better future for our region.

Quotes attributable to the Minister for Foreign Affairs, Senator the Hon Penny Wong:

“Australia is using all elements of our national power to advance our interests and shape the world for the better.

“Development and prosperity underpin peace and stability.

“This new policy reflects who we are. Australia is there, not only in times of crisis, but is working with the region to strengthen its resilience and to help deliver its aspirations.

“The new policy will guide how Australia's development program works alongside our diplomatic, defence and economic engagement.”

Quotes attributable to the Minister for International Development and the Pacific, the Hon Pat Conroy MP:

“The Albanese Government is rebuilding and reinvesting in Australia's development program after the Liberals and Nationals slashed $11 billion and neglected development expertise.

“We are responding to the priorities of our partner countries and helping to lift people out of poverty, building resilience and strengthening relationships in our region.

“We will invest in local solutions that deliver a double dividend – creating local jobs and delivering direct economic benefits on the ground, while also improving the development impact of Australia's investments.”

Read the policies:

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