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NBN topped up with $19.5 billion loan

AAP logoAAP 18/11/2016 Paul Osborne, AAP Senior Political Writer

The federal government will lend NBN Co $19.5 billion on commercial terms to complete the rollout of the national broadband network.

The government's equity contribution of $29.5 billion is due to be used up this financial year.

"To help ensure that NBN can fully focus on the remaining rollout as it significantly ramps up, the government has decided to provide the remaining funding required to complete that rollout through a government loan to NBN Co Ltd on commercial terms," Finance Minister Mathias Cormann said in a statement on Friday.

NBN chief executive Bill Morrow said the company had been advised of the $19.5 billion loan.

"This allows the NBN executive to fully focus on building and operating the network, to bring fast broadband to all Australians by 2020," he said in a statement.

"NBN welcomes the decision, which is in the best interest of the Australian taxpayer."

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