The first round of applications under the Federal Government’s $200 million a year Disaster Ready Fund (DRF) are being reviewed ahead of an expected mid-year announcement, the National Emergency Management Agency (NEMA) says.

States and territories applying for funding must contribute at least 50% toward the spending on proposed mitigation and resilience projects. Applications opened on January 10 and closed on March 6.

A NEMA spokesperson says an Assessment Panel will provide funding recommendations to the Emergency Management Minister.

“Outcomes are expected to be announced by mid-2023,” the spokesperson told insuranceNEWS.com.au.

Further details including on the amounts and successful and unsuccessful projects, except where the applicants decide to opt out, will be published by NEMA in a separate report.

“NEMA consulted states, territories, communities and other key stakeholders, including representatives from the insurance sector, in developing the program guidelines for round one, and will work with the Hazards Insurance Partnership and other stakeholders on the design of round two,” the spokesperson says.