- Our Investments
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- How and Where We Invest
- Reforms
Reforms
NAIF’s reforms are driving economic growth and shaping a stronger future for northern Australia.
2023 Reforms
The Northern Australia Infrastructure Facility Amendment (Miscellaneous Measures) Bill 2023, was passed by the Federal Government in June 2023. The amendment provided NAIF with an additional $2 billion allocation, taking the total financing available for infrastructure projects to $7 billion.
It also enabled us to support economic development in the Indian Ocean Territories communities of Christmas Island and the Cocos (Keeling) Islands.
2021 Reforms
The Northern Australia Infrastructure Facility Amendment (Extension and Other Measures) Act 2021 was passed in May 2021. NAIF was extended for a further five years to 30 June 2026. A new Investment Mandate was also issued.
Some of the key reforms to NAIF include:
- An expanded definition of infrastructure and focus on financing development rather than just construction.
- Expanded geography to include the Shire of Ngaanyatjarraku in Western Australia
- A broader definition of public benefit.
- Expanded debt tools, including the ability to provide letters of credit, guarantees and lend in foreign currency.
- Ability to provide finance for smaller loans, through working with financing partnerships.
- Ability to provide equity finance, subject to a cap of $50m per investment and being non-controlling stakes.
- Ability to provide financing directly to proponents rather than via the States or Northern Territory, under certain circumstances.