Reconstruction fund board to bring wide experience

Industry Minister Ed Husic announced the board appointments for a $15 billion national reconstruction fund, a proposal that passed parliament in March.

The fund aims to drive investment in seven priority areas: resources, agriculture, transport, medical sciences, renewables and low-emissions technology and defence.

The board will be chaired by climate change policy and sustainable finance expert Martijn Wilder who has previously held high-profile positions including as former chair of the Australian Renewable Energy Agency board and Climate Council director.

Former Liberal assistant treasurer Kelly O'Dwyer will be a member of the board along with former senior union official Daniel Walton.

Mr Husic said the Albanese government was keen to draw on different perspectives and experiences and to ensure the board could be carried through different political administrations.

"We don't want rushed decisions, we want right decisions and we don't want decisions in the political interest, we want them in the national interest," he told reporters in Canberra.

The minister expressed his "deep gratitude" for Ms O'Dwyer in particular for agreeing to be a board member.

"We have different political viewpoints, but we share the same ambition and energy to see our economy grow," he said.

Invest Victoria chairman Ahmed Fahour, OncoRes Medical chief executive Katharine Giles, entrepreneur Daniel Petre, Regional Investment Corporation chair Karen Smith-Pomeroy and risk and governance expert Kathryn Presser have also been appointed to the board.

Members will be tasked with making investment decisions for the fund, independent of government.

"With these appointments, the ball is now rolling for the national reconstruction fund," Mr Husic said.

"The board's collective experience brings to bear the independence and industry experience that taxpayers, project proponents and co-investors expect of this critical national project."

Australian Associated Press