Australia’s National Reconstruction Fund financing vehicle was approved on March 29th with a A$15 billion Australian dollars (equivalent to $10 billion USD – but figures through the rest of this piece are in Australian dollars for convenience). The A$15 billion of government funding – A$5 billion now and the rest through to 2029 – applied via loans, equity investment and guarantees, is expected to catalyze an additional $30 billion from the private sector. In short this is the Australian response to the US Inflation Reduction Act. The seven ‘priority areas’ covered by the Fund are: renewable and low emission technology medical science transport, covering cars, shipbuilding and trains value-add in the agriculture, forestry and fisheries sectors value-add in resources, especially…