NAIF welcomes additional reforms and release of Statutory Review

  • 10 Dec 2020
  • Media Release


NAIF welcomes additional reforms and release of Statutory Review

The Northern Australia Infrastructure Facility (NAIF) welcomes additional reforms to its Mandate announced today by the Minister for Resources, Water and Northern Australia Keith Pitt.

The reforms, announced alongside the release of the Australian Government’s Statutory Review into NAIF, are to:

  • permit NAIF to take non-controlling investment positions in projects, with an overall investment cap on equity of $500 million (10 per cent of NAIF’s total $5 billion investment fund), and
  • broaden even further the instruments available to NAIF to include new debt tools like bank guarantees.

The new measures are in addition to a range of changes proposed earlier this year by Minister Pitt designed to allow NAIF to be even more flexible, increase its risk appetite and widen the scope of projects eligible for NAIF funding.

Welcoming the reforms, NAIF CEO Chris Wade said the measures would allow NAIF to take a more proactive role in project development across northern Australia.

“We are excited by the prospect of becoming even more agile and responsive in supporting infrastructure development and economic and population growth across northern Australia. We particularly welcome the addition of equity to NAIF’s debt tools, which will broaden NAIF’s reach and increase the projects we can support.

“Since the last series of reforms to NAIF in 2018, we have offered more than $2.2 billion in loans to projects across northern Australia and these additional reforms will further accelerate the momentum that has been building over the last two years,” Mr Wade added.

NAIF acknowledges these reforms come after an extensive period of consultation related to Australian Government’s Statutory Review, released today and containing 28 recommendations. NAIF notes the feedback contained in the report and thanks all stakeholders for their input.

NAIF works with project proponents to encourage and ensure that NAIF’s financial support will help bring a positive impact to local communities, provide positive Indigenous outcomes, and support the region and northern Australia as a whole.

In the last financial year, NAIF made 11 Investment Decisions worth more than $1.4 billion that will lead to a broader economic benefit to northern Australia of $4 billion and more than 3500 jobs.

NAIF’s mandate was recently extended to 30 June 2026 by Minister Pitt.

Share this page