NBN Co announced on Wednesday it will establish a $150 million financial relief and assistance fund to help internet providers support residential and small and medium business customers that are affected by the COVID-19 pandemic.

The relief fund is aimed at helping internet providers connect low-income households with home schooling needs, supporting emergency and essential services, and helping small and medium businesses and other residential customers who are facing financial hardship.

The consultation involved more than 50 internet providers, government and consumer group the Australian Communications Consumer Action Network and identified specific groups that require immediate support.

About $50 million will be directed to helping internet providers support low-income households with school-aged children who do not currently have an active nbn connection at home.

NBN Co is working with the Department of Education and schools in each state and territory to ensure this initiative reaches those most in need.

As part of this package, NBN Co will also be implementing relief measures to help internet providers support struggling households and small and medium businesses stay connected during this pandemic.

It has created a dedicated support package for essential and emergency services, which focusses on providing internet providers with higher speeds for telehealth providers, enhanced service levels, and prioritised connections and fault resolution via case management through nbn's Business Operations Centre.

The package also supports small and medium businesses by providing internet providers with discounted access to new connections of specified wholesale business grade products to help them to maintain or re-establish their businesses, once this crisis passes.

The total support package for small and medium businesses will be about $50 million and the relief measures for residential financial hardship will also be about $50 million.

The NBN Co relief and assistance package will be made available to retailers from this month until September 30 but it's a matter for retailers to determine when and what offers they develop for their customers.

Nbn chief executive officer Stephen Rue said as a national wholesale provider of broadband services, nbn has an important role to play.

"We know that many Australian households and businesses are doing it tough, and that access to broadband services has never been more important," Mr Rue said.

"The unprecedented measures we are announcing today reflect our commitment to the telecommunications industry in helping to deliver a whole of industry solution to these consumer and business segments, which have been hit hard by the pandemic."

To help unconnected low-income families with school children get connected, nbn will also waive its $37 monthly wholesale charge for internet providers for many services on the 25/5 Mbps speed tier between April and September.

Funds will also be allocated for internet providers to help residential and small and medium business customers who are struggling to pay their monthly bill because they have been affected by the pandemic.

For essential and emergency services and telehealth providers NBN Co will offer internet providers enhanced service levels, and prioritised connections and fault resolutions for those customers.