States to access loans for dams

States and territory governments will be able to bid for loans to fund dam projects.

The federal government announced a 10-year $2 billion national water infrastructure concessional loan scheme in Tuesday's federal budget.

Deputy Prime Minister Barnaby Joyce says the money will be available from July to help get high-priority projects off the ground.

"Where there is water there is wealth and dams are a bank," he said.

States and territories will have 25 years to pay back the money.

Source: AAP

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