by Shaun McGushin
Since the commencement of the Northern Australia Infrastructure Facility (NAIF) on 1 July 2016, it has already reported to have received over 80 applications for concessional loans to pursue projects which build Northern Australia’s economic infrastructure for long-term growth.
Many applications are still under review, although there have been some discussions around particular projects, such as the Port of Townsville expansion, the Cairns Airport redevelopment, as well as various projects in the telecommunications, renewable energy and tourism space.
It will be interesting to see how the NAIF scrutinises projects going forward, with pressure from the Australian Senate already rising to steer funding towards projects which are involved in renewable energy, in particular to safeguard the Great Barrier Reef and other natural values of Northern Australia.
The NAIF is now headquartered in Cairns under the responsibility of the Minister of Resources and Northern Australia, Senator the Hon Matthew Canavan.
For a detailed summary of the NAIF including its Board, Management and Investment Mandate, please see our earlier article which is reproduced here.