Several Katherine organisations will receive Federal Government funding to help financially disadvantaged residents.
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Anglicare NT will receive almost $500,000 to run financial counselling services for problem gambling in central Australia and the Katherine region.
CatholicCare NT will receive funding of $2.2 million to run Money Support Hubs.
The hubs will offer a variety of financial services and products targeted at financially vulnerable people that help build self-reliance and provide access to financial products, across the Katherine, Barkly, Daly, Tiwi, West Arnhem and Wadeye regions.
Territorians in rural and remote communities experiencing financial hardship will benefit from a share of $50 million in funding in the first of three Financial Wellbeing and Capability Activity grants announcements.
Senator Nigel Scullion said the Government will fund CatholicCare NT, Anglicare NT, Bawinanga Aboriginal Corporation and HK Training & Consultancy to offer critical services in financial resilience.
“This investment will ensure local organisations can continue to help Territorians transcend financial crisis, make informed decisions about their financial affairs and get back on track,” Senator Scullion said.
Senator Scullion said the CLP was committed to helping people navigate through debt, learn how to better manage their money and become financially independent.
Minister for Families and Social Services Paul Fletcher recently announced that 65 organisations will use the $50 million funding to offer critical services in financial resilience across every state and territory.
“This funding is designed to help Australians who are at disadvantage. This funding will benefit both individuals and families in meeting immediate needs in times of crisis and teaching financial management skills for the long-term,” Mr Fletcher said.
“Community organisations will receive funding to help people get back on track, learn how to better manage their money and become financially independent.
“Nearly 700,000 people accessed Financial Wellbeing and Capability services last year and this announcement enables continuity for organisations, communities and vulnerable Australians.
“Funding will provide financial counselling for problem gamblers, financial literacy and no interest loans of up to $1500, which enable people on low incomes to purchase essential household items.”
From January 1, 2019, the Government will provide:
- up to $8.2 million for Financial Counselling for Problem Gambling (to June 2020)
- up to $21 million for Money Support Hubs (to June 2020)
- up to $20.1 million for Microfinance (to June 2020)
- up to $2.3 million to build capability for Commonwealth Financial Counsellors and Financial Capability workers (to June 2023).
A further $278 million in Financial Wellbeing and Capability Activity grants will be announced for Emergency Relief, Food Relief, Commonwealth Financial Counselling and Financial Capability and Financial Counselling Helpline services.
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