Farming loan agency to start without home

The Regional Investment Corporation - dubbed the Barnaby Bank - is set to start work in the NSW regional city of Orange from July 1.

Labor's agriculture spokesman Joel Fitzgibbon doubts the $28 million agency, which is designed to dole out concessional loans for farming and water infrastructure, will "ever eventuate".

"We have the Regional Investment Corporation board meeting on a park bench in Orange. This is a disgrace," Mr Fitzgibbon told parliament on Tuesday.

But Agriculture Minister David Littleproud hit back at the claims, noting the weekend's "meeting" was a media opportunity.

"The park meeting is another Fitzgibbon fiction - the board only met in a park to pose for a photo for the local paper," Mr Littleproud told AAP.

And he's confident the agency will be operational from next week.

"The RIC will be ready to roll on July 1. Farmers will be able to ring and begin the application process for a loan," the minister said.

Mr Fitzgibbon said the RIC was without a building, chief executive or staff days before it is due to start.

He likened the situation to the Australian Pesticides and Veterinary Medicines Authority working from an Armidale McDonald's during its relocation from Canberra.

The RIC's creation and the APVMA's relocation were the brainchild of former Nationals leader Barnaby Joyce.

Mr Fitzgibbon called on Mr Littleproud to abandon the RIC and give up on moving the pesticides agency.

"The new minister should walk away from the antics of the former minister," Mr Fitzgibbon said.

He accused the Nationals of pork-barrelling after losing a by-election in the state seat of Orange, with the party relinquishing the seat for the first time in 69 years in 2016.

Legislation to establish the RIC passed parliament in Mr Littleproud's first parliamentary week as agriculture minister in February.

Australian Associated Press