Definitions associated with Public Benefit Guideline at NAIF. Here, you’ll find detailed explanations of key terms and concepts used in our guidelines. This information is crucial for understanding how NAIF-funded projects are required to produce benefits to the broader economy and community, beyond just economic returns to the Project Proponent.

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Economic Impact Assessment means a quantitative study of the effect of an event on the economy in a specified area (includes input / output, computer equilibrium modelling methodologies).

Full Time Equivalent (FTE) means the measurement used to measure jobs generated and should be estimated using 8 hours a day and five days a week or a total of 40 hours a week. Two part-time jobs, one that is two days a week, and another that is three days a week would be reported as one FTE.

Generated means benefits or jobs directly generated by the Project which would not have existed had the Project not gone ahead.

Greenhouse Gases (GHG) Emissions means the seven gases mandated under the Kyoto Protocol and to be included in national inventories under the United Nations Framework Convention on Climate Change and should be measured as kilotonnes of carbon dioxide equivalents (CO2-e).

Indigenous means Aboriginal and Torres Strait Islander peoples of Australia.

Investment Decision means a decision by the NAIF Board to offer finance to a Project.

Investment Mandate means the Northern Australia Infrastructure Facility Investment Mandate Direction 2023.

Investment Proposal means an application for financial assistance submitted by the Project Proponent to NAIF.

Local means local to the Project and within NAIF’s legislative Northern Australia area.

Mandatory Criteria 2 means the mandatory criteria 2 in Schedule 1 of the Investment Mandate, as provided in section 3 below.

Mandatory Criteria means the mandatory criteria in Schedule 1 of the Investment Mandate.
NAIF means the Northern Australia Infrastructure Facility.

NAIF Act means the Northern Australia Infrastructure Facility Act 2016 (Cth).

Northern Australia, as defined in section 5 of the NAIF Act, means the area that broadly covers the Northern Territory, and those parts of Queensland and Western Australia above the Tropic of Capricorn. It also covers the regional centres of Gladstone, the Gladstone Hinterland, Carnarvon, Exmouth, and the Local Government Areas of Meekatharra and Wiluna in Western Australia, as well as the Indian Ocean Territories of Christmas Island and Cocos (Keeling) Islands.

Northern Australian Suppliers means a person, company or organisation that sells or supplies goods or services to the Project from a business or premise located in Northern Australia.

Project means a project the subject of an Investment Proposal or an Investment Decision.

Project Proponent means the entity responsible for a Project.

Public Benefit means the net benefits (enabled by a Project) to the broader economy and community, beyond an economic return to the Project Proponent.

Public Benefit Assessment refers to a report commissioned by the Project Proponent from an independent economics consultant that assesses the net benefits of the Project in line with NAIF’s requirements.

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