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The $7b fund for projects commercial lenders won’t back

The $7b fund for projects commercial lenders won’t back

Some of the projects the federal government’s Northern Australia Infrastructure Facility is funding have raised eyebrows.

Three potash projects, a coal mine, a pumped hydro scheme and a barramundi farm, as well as a rugby league training centre and hospital car park are among the random projects funded by the federal government’s little-known $7 billion Northern Australia Infrastructure Facility.

The NAIF – established as a $5 billion fund by the former Coalition government in 2016 to kick-start economic development in Australia’s north – has been thrust into the national spotlight after the collapse of the Kalium Lakes potash project and, along with it, $83 million of taxpayer funding.

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Mark Ludlow
Mark LudlowQueensland bureau chiefMark Ludlow writes on politics, energy and infrastructure based in Brisbane. Connect with Mark on Twitter. Email Mark at mludlow@afr.com

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Original URL: https://www.afr.com/companies/energy/the-7b-fund-for-projects-commercial-lenders-won-t-back-20230808-p5duqm