An independent panel will conduct a review into the Northern Australia Infrastructure Facility Act 2016 over the next five months.
Minister for Northern Australia, Madeleine King has appointed former Member for Lingiari, the Hon Warren Snowdon, to lead the review. Mr Snowdon will be supported by a panel comprising Professor Peter Yu from Western Australia and Dr Lisa Caffery from Queensland.
The panel will conduct the review over the next five months, undertaking targeted stakeholder consultation across the north.
The review is a requirement under the Act and will make recommendations to Government including on how to best continue to support investment that delivers economic and community benefits to northern Australia.
NAIF is a development financier that was designed to provide financial assistance to infrastructure projects in northern Australia to drive public benefit, economic and population growth, as well as materially improve the lives of First Nations people.
Minister King said Mr Snowdon, Professor Yu and Dr Caffery bring exceptional experience to the independent review.
“The independent review panel members possess strong connections to northern Australia and the necessary background to lead this review,” Minister King said.
“The review is an important opportunity to explore the role of the Australian Government’s $7 billion loan facility and how it can contribute to government priorities in the national interest, such as the Critical Minerals Strategy and our Future Made in Australia agenda.”
Special Envoy for Northern Australia Luke Gosling OAM welcomed the appointment of Mr Snowdon to lead the independent review.
“This independent review will ensure NAIF funding continues to be improved to provide the economic and social infrastructure needed to advance local businesses, communities and First Nations people across the North,” Mr Gosling said.
The review is scheduled to deliver a report to government in December 2024.
For more information, including the review’s terms of reference, click here.
Image: bmphotographer/shutterstock.com
