The government's multi-billion dollar reconstruction fund is looking increasingly likely to become law, with independent Senator David Pocock indicating he was "very supportive" of the proposal.
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The $15 billion fund will aim to provide finance for areas such as technology, transport and renewables in an effort to boost manufacturing capabilities in the country.
The Greens outlined their support for the fund following assurances from the government the fund would not go towards coal or gas projects, or logging native forests.
Negotiations are continuing between the government and Senator Pocock on the fund, with the bill needing the support of two crossbenchers to pass the upper house.
Senator Pocock said the Greens' amendments were a welcome step forward, but he was also seeking further improvements with the fund.
"In principle, I'm very supportive (and) working through some details which I believe will improve the legislation," he told reporters in Canberra on Wednesday.
"Clearly the Greens are on board with the exclusion of coal and gas, but for me, I'm approaching it and trying to be constructive and suggest ways that I think it can be improved."
The decision to exclude native logging from the reconstruction fund has angered Tasmanian senator Tammy Tyrrell, who last week said the government had broken its promise to support the industry in her home state.
Senator Pocock said he would aim to address concerns raised from start-ups and companies in the ACT that were looking to scale up their businesses.
While a parliamentary committee on Friday recommended the legislation be passed without further amendments, coalition senators on the committee raised a number of concerns.
Australian Associated Press
