The NAIF offers up to $5 billion over five years in concessional finance to encourage and complement private sector investment in infrastructure that benefits northern Australia. This may include developments in airports, communications, energy, ports, rail and water.
The NAIF is a major long term initiative of the Australian Government’s White Paper on Developing Northern Australia, Our North, Our Future. The Office of Northern Australia in the Department of Industry, Innovation and Science has policy responsibility for the NAIF, along with an overall coordination role for northern Australia policy and the White Paper on Developing Northern Australia.
The NAIF’s strategic objectives include:
- supporting the construction of economic infrastructure that provides a basis for the longer term expansion of industry and population in northern Australia
- ensuring the Commonwealth is repaid in full and provides the minimum level of concessionality necessary to allow a particular project to proceed
- operating in partnership with commercial lenders, not in competition
- supporting economic infrastructure projects that provide future economic benefits
- being credible in financial markets and meeting public sector accountability standards
- catalysing further private sector investment in northern Australia