Northern Territory Local Jobs Fund
NAIF Loan: Up to $50m. Investment Decision: September 2021
About the Project
NAIF’s loan is to the Northern Territory Government. The project is a proposed financing partnership with the Northern Territory Local Jobs Fund to deliver a growth capex concessional lending program in the Northern Territory. Eligible projects will be across multiple business sectors.
The investment from NAIF will provide eligible businesses in the NT access to loans of up to $5 million through the Northern Territory’s Local Jobs Fund boosting local jobs and accelerating infrastructure and business growth.
The partnership between NAIF and the NTLJF will broaden the reach of NAIF and make financing more accessible to eligible businesses.
Examples of businesses that may wish to take advantage of the scheme include growing Northern Territory sectors such as agribusiness, tourism, resources and manufacturing.
The project is NAIF’s first on-lending project.
The $66.6m Program ($50m from NAIF, $16.6m from the NT) is estimated to support approximately $110.1m in Gross Territory Product and 532 full time equivalent (FTE) jobs in the Northern Territory.
The Proponent’s IES meets the IES Mandatory Criterion under the NAIF Investment Mandate, with outcomes across Indigenous participation, procurement and employment appropriate to the nature of the partnership program being delivered through the NT Local Jobs Fund.
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