The National Australian Infrastructure Facility as come a long way in the past three years. The Albanese government can do more to underwrite its success.
Before the federal election in May 2019, and in full campaign mode, then-Labor leader Bill Shorten eviscerated theHe characterised NAIF as an “abject failure”, and committed to an overhaul, with an emphasis on projects of national economic significance, such as gas infrastructure from Beetaloo Basin.
There is inevitably a time lag between an investment decision and contractual close by NAIF, and also until those funds are ‘spent’ by the borrower. There is a sound geographical spread as between Western Australia, Queensland and the Northern Territory, along with a demand-led dispersion by industry sector.
NAIF’s mandate was extended until 2026 and the range of financing mechanisms that it may deploy was broadened, including to equity investments with a cap of $50 million. On this we reached out to the new Minister for Resources and Northern Australia, Madeline King. Her spokesperson commented: “Minister King is committed to the development of Northern Australia and to increasing the opportunities for people who live and work there, including through NAIF. The government will announce its budget measures closer to the September budget”.
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