Government backing for mines, which could potentially include the Adani Carmichael project, comes as banks under pressure from activist groups

The Turnbull government has responded to the increasing unwillingness of Australia’s banks to fund major coal projects by overturning a ban on government-backed loans to domestic miners.

Steve Ciobo, the minister for trade, says protesters and activist groups have so discouraged Australia’s retail banks from financing “otherwise viable exporters in the coal sector” that the government must to step in to fund a growing “market gap.”

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