A billion dollars of inaction. That is the current status of the extra $1 billion provided to the Regional Investment Corporation to support those impacted by ecological events such as the devastating algal bloom in South Australia.

In August, the Prime Minister announced the additional funding, describing the impact as helping to “manage cost pressures and free up cash flow.” Despite that, it has now been revealed the program guidelines remain “under development”.

Under questioning in Canberra on Wednesday, officials from the Department of Agriculture, Fisheries and Forestry were forced to admit they were yet to determine who would be eligible for the loans.

Referencing the implementation, First Assistant Secretary, Farm Resilience, Melissa Brown, told the inquiry that, “we are under development at the moment and working closely with the minister’s office.”

Federal Nationals Senator for New South Wales, and Shadow Minister for Fisheries and Forestry, Water, and Emergency Management, Ross Cadell, said the timeline didn’t pass the pub test given the algal bloom was first detected in March this year.

“This announcement was nothing short of a big bucket of nothing,” Cadell said.

“Six months ago, the fish disappeared from the Spencer Gulf.

Now, we’re talking about the fact we might find out who is eligible for Regional Investment Corporation loans before Christmas.

“The fisherman who rely on the gulf for their survival needed support yesterday, not next week, or next quarter.

“The Prime Minister waited until the bloom rolled into Adelaide to decide an announcement was needed.

“Once the photo was taken, the concept of delivering quick and real support washed away.

“You have to wonder if the Prime Minister even knew what he was announcing.”