Northern light shines bright

Legislation to establish the Government’s $5 billion Northern Australia Infrastructure Facility (NAIF) has passed the Parliament enabling it to commence from July.

The facility was announced in the Northern Australia White Paper, in which the Government detailed its plans to unlock economic and population growth opportunities across the north. The facility will be headquartered in Cairns, Queensland.

The facility will provide financing to build the transport, energy, water and communications infrastructure to support the Government's strategy.

The Government has also extended the coverage of the NAIF, which will now include the wider areas of Exmouth and Carnarvon and the local government shires of Meekatharra and Wiluna, in Western Australia.

The NAIF board will consist of:

The board will have an invesment mandate that will include several mandatory and non-mandatory criteria. They include: