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More than $ 22 million in public funding will go directly to a private foundation handpicked by the Turnbull government to distribute the Great Barrier Reef's largest funding package to Australia, raising new questions about the controversial agreement. It emerged that the foundation would pocket the interest earned on the record – a large windfall of funding, despite previous claims the interest would be redirected to projects to help save the natural wonder.
The Grant of the Great Barrier Reef Foundation is the largest in the history of Australia
Photo: Delivered
In April, the government announced that it would give $ 444 million to the Great Barrier Reef Foundation, a small, business-oriented charity, to fund reef economy projects. The government has not initiated a bidding process or given opportunities to other organizations, including its own marine or reef science agencies, to solicit funding.
Labor criticized the agreement.
Ministry of Environment and Energy documents show that under the terms of the agreement, a "$ 22.5 million direct payment" from the funding will be paid to the foundation to cover the costs of administration. 19659009]
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