Australia’s federal government, under the leadership of Anthony Albanese, has remained firm on its commitment to boost Australia’s official development assistance annually by 2.5%, with an increase of 117.3 million Australian dollars ($79.3 million) over the previous budget announced in October, taking the total to AU$4.77 billion for the year.
Announced on Tuesday in Canberra, the latest Australian aid budget for the 2023-24 financial year confirms the country’s focus on establishing itself as the partner of choice over China for development and economic opportunities in the Pacific and Southeast Asia regions. The Pacific remains the priority for spending, receiving AU$1.91 billion for the year. Southeast and East Asia will receive AU$1.24 billion, South and West Asia will receive AU$367.5 million and AU$1.26 billion will be contributed through “global and other programs.”
As part of new measures and funding announced, the Department of Foreign Affairs and Trade, or DFAT, will be investing AU$114 million over the forward budgets to fund a range of measures supporting enhanced engagement in the Pacific region, including expansion of the Pacific Australia Labour Mobility Scheme, support for the Pacific Islands Forum, growth of cyber capabilities and disaster preparedness and response.