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E. Our funding and capital management

On 22 June 2011, the Commonwealth Government and NBN Co entered into an Equity Funding Agreement (EFA), whereby the Commonwealth provided assurances to the Company in relation to the provision of equity funding until 30 June 2021, unless terminated earlier.

As at 30 June 2019 the total committed equity funding of $29.5 billion from the Commonwealth had been provided to NBN Co under the terms of the EFA.

On 22 December 2016, a $19.5 billion loan agreement with the Commonwealth Government was signed for the period from 1 July 2017 to 30 June 2021.

During the period the Commonwealth Government agreed to extend the tenor of its loan by three years (from 30 June 2021 to 30 June 2024) and to allow NBN Co to access up to $2 billion of private sector debt. The terms of the private sector debt are subject to the approval of the Commonwealth Government.

In addition, NBN Co has access to a short-term working capital facility and plans to utilise the facility in the normal course of business.