The NAIF is established by the under the provisions of the Northern Australian Infrastructure Facility Act 2016 (NAIF Act) and is a corporate Commonwealth entity under the Public Governance, Performance and Accountability Act 2013 (PGPA Act).
The PGPA Act sets out the requirements for NAIF in relation to corporate governance, reporting and accountability which are in addition to those in the NAIF Act.
Ministerial responsibility for the NAIF lies with the Hon Barnaby Joyce, Deputy Prime Minister, Minister for Agriculture and Water Resources, Minister for Resources and Northern Australia. The responsible Minister is responsible for the appointment of the Board Members and issuing the NAIF Investment Mandate, as well as having accountability to the Australian Parliament.
The NAIF Board is responsible for deciding within, the scope of the Investment Mandate, the strategies and policies to be followed by the NAIF and to ensure the proper, efficient and effective performance of the NAIF’s functions.
The Chief Executive Officer (CEO) of the NAIF, is responsible for the day-to-day administration of the NAIF, subject to (and in accordance with policies determined by) the NAIF Board. The CEO is supported by a dedicated team of its own staff and has entered into a Service Level Agreement (SLA) with the Export Finance and Insurance Corporate (Efic) for the provision of additional support services.
The Queensland, Northern Territory and Western Australian Governments will work with the NAIF through the on lending of NAIF investments to project proponents. The involvement of the states and territory will help to maximise the gains from infrastructure investment in northern Australia.
NAIF Board Charters
NAIF Governance Policies