Shipyard cranes at sunrise

Minister for Resources and Northern Australia, Matt Canavan, has announced a review of the $5 billion Northern Australia Infrastructure Facility (NAIF) to assess its ability to meet the Government’s development objectives in Northern Australia.

The Northern Australia Infrastructure Facility (NAIF) is a lending facility which provides loans to infrastructure projects that benefit Northern Australia.

Minister Canavan said members of the public, community organisations and interested stakeholders are invited to make public submissions to inform the statutory review.

“The NAIF review will help the Government make sure the program will continue to meet is objectives to support development across Northern Australia,” Minister Canavan said.

“The NAIF has so far committed to $1.4 billion in investment decisions and conditional approvals, supporting projects across Northern Australia which are forecast to create more than 4,000 jobs.

“A diverse range of job-generating projects are being supported, including ports,  airports, tourism, education, agriculture, resources and renewable energy.

“Overall, projects supported to date by NAIF are set to return $2.9 billion in public benefit.”

The Review will also consider the 30 June 2021 deadline for investment decisions and the benefit of extending this.

Submissions are due by Friday 13 December 2019.

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