I am pleased to present the 2018-19 Annual Report for the Infrastructure and Project Financing Agency (IPFA).
IPFA is a small agency with a big impact.
We support the Australian Government to implement its investment decisions and deliver on its infrastructure priorities and commitments. We do this by providing independent, whole-of-government commercial and financial advisory services, program management services and capability building to support Australian Government infrastructure investments.
In our first two years of operation, IPFA has provided advice on over $55.7 billion worth of Australian Government infrastructure investments.
Our client service-operating model recognises that we work with a diverse range of Australian Government clients as the preferred commercial and financial advisor for Ministers as well as Commonwealth departments and agencies.
2018-19 saw significant progress for IPFA.
Over the last year alone, we received 100 requests for our commercial and financial advisory services from 11 agencies.
This reflects that demand for our services has expanded beyond the central agencies and the Department of Infrastructure, Transport, Cities and Regional Development, to include a broader range of Commonwealth clients, including the Department of the Environment and Energy, Department of Home Affairs, Department of Foreign Affairs and Trade, and Department of Innovation, Industry and Science.
The increased demand for our services also reflects the breadth of our service offering, which has expanded to include negotiation services, governance oversight and program management services.
Notwithstanding the expansion of IPFA’s client base and scope of work, our vision remains, to enable commercial excellence in Australian Government infrastructure investment for all Australians.
Notable highlights in 2018-19 where IPFA delivered on this vision include:
- Supporting the Australian Rail Track Corporation, and the Department of Infrastructure, Transport, Cities and Regional Development, on the Inland Rail Project, including terminals, rail connections and Public Private Partnerships
- Supporting the Department of Infrastructure, Transport, Cities and Regional Development in its City Deals program, notably City Deals in Darwin, Geelong, Hobart and Western Sydney
- Supporting the Department of the Environment and Energy in developing the Underwriting New Generation Investments program.
In addition to the commercial and financial advisory services we provide, we were established to strengthen the capability of the Commonwealth, recognising that a more sophisticated and expert public service can better support the Australian Government in its infrastructure investment decisions.
To that end, we delivered 11 knowledge sharing activities through our signature Practice event series, which has been well supported by our Commonwealth colleagues, as well as other levels of government, and the private sector.
These achievements are underpinned by our open collaboration with stakeholders which has fostered strong, trusting partnerships with our state and territory counterparts, and the private sector.
I am proud to be leading IPFA, and would like to thank our Ministers and our colleagues across the Australian Public Service for your support over the last year.
I would also like to thank all of the IPFA team for their professional, high-quality contributions and dedication to our vision and purpose.
Together we remain committed to enabling commercial excellence in Australian Government infrastructure investment for the benefit all Australians.
Ms Leilani Frew
Chief Executive Officer