Last week, the Australian Government announced an additional $260.9 million in funding to extend the International Freight Assistance Mechanism (IFAM) to June 2022. The government has now provided $1.04 billion to the IFAM program to support Australian exporters to continue to supply international markets.
The extension of IFAM and additional funding support will continue to help to maintain critical global air connections between Australian businesses and their customers all over the world. IFAM provides logistical and administrative support for international freight movements by aggregating cargo loads, negotiating with airlines and dealing with partner governments to facilitate clearances and improve transparency of freight costs during the pandemic.
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