Joint Media Release

Appointments To The Regional Investment Corporation Board

MC 19/18

Senator the Hon. Mathias Cormann
Minister for Finance
Leader of the Government in the Senate
Senator for Western Australia

The Hon. David Littleproud MP
Minister for Agriculture and Water Resources
Federal Member for Maranoa

4 April 2018

The Government has appointed Mr David Foster, Ms Lucia Cade and Mr Mark Lewis as members of the Board of the Regional Investment Corporation, with Mr David Foster appointed as Chair of the Board.

Mr David Foster has an extensive background in commercial finance having previously worked for both Westpac and Suncorp. Mr Foster is also a current director with Genworth Mortgage Insurance, G8 Education Limited and Local Government Enterprises of Queensland.

Ms Lucia Cade has a background in engineering and commercial leadership, with a focus on water infrastructure, utilities and professional services. Ms Cade has been Chair of South East Water, a Victorian government-owned water utility, since October 2015.

Mr Mark Lewis is a former Western Australia Minister for Agriculture and Food and the former Member for Mining and Pastoral in the Western Australian Legislative Council from 2013 to 2017. His prior responsibilities included the Rural Business Development Corporation, which administers loans to primary industries, including concessional loans on behalf of the Commonwealth.

The Regional Investment Corporation (RIC) will administer the Government’s $2 billion farm business concessional loans program and the $2 billion National Water Infrastructure Loan Facility. 

By consolidating the delivery of Commonwealth farm business concessional loans under the RIC, the Government will streamline the process for farmers, making it easier and faster, and ensuring national consistency in decision-making.

For more information about the Regional Investment Corporation visit: http://www.agriculture.gov.au/ag-farm-food/drought/assistance/ric

[ENDS]

Media Contact(s): 

For Minister Cormann: Karen Wu - 0428 350 139
For Minister Littleproud: Les White - 0409 805 122

Senator the Hon Mathias Cormann, Minister for Finance and the Public Service, Perth