Northern Australia Infrastructure Facility 2020 statutory review
The Northern Australia Infrastructure Facility (NAIF) is investing $5 billion in economic infrastructure in northern Australia.
The NAIF was established in June 2016, under the Northern Australia Infrastructure Facility Act 2016. A review of the operation of the NAIF Act is required after the first 3 years.
The review considered:
- whether to extend NAIF’s investment period beyond 30 June 2021
- appropriate governance arrangements for the NAIF after that date
- if the NAIF’s framework best supports economic development in northern Australia, and other issues
It also looked at the NAIF’s potential to support the Government’s economic stimulus and recovery response to the COVID-19 pandemic.
The recommendations include:
- extending the NAIF’s operations for five years until 30 June 2026
- accelerating its lending rate
- expanding the scope of projects eligible for NAIF funding
- increasing the NAIF’s risk appetite
- strengthening the NAIF’s governance framework
- The Minister announced the five year extension of the NAIF on 17 July 2020
- The Minister announced NAIF reforms in response to the review on 30 September 2020
- We sought feedback on an issues paper via our Consultation hub in November and December 2019
- Find out more about NAIF’s activities