Reflecting this focus, the year to 30 June 2020 saw NAIF provide loan commitments (known as Investment Decisions) to 11 infrastructure projects across northern Australia worth $1.4bn, to support projects with a total capital value of $2bn. The Investment Decisions were for projects spread across northern Australia with $767m committed for Queensland projects, $452m committed for Northern Territory projects and $163m committed for Western Australian projects.
The projects are forecast to contribute over $4bn of economic benefit to the northern Australian economy, which is a multiplier of 2.8 for every NAIF loan dollar committed. The projects funded by NAIF are forecast to support 3,530 jobs in either the construction or operational phase.
Details of our investments can be found later in this report and also on the NAIF website.
After NAIF’s Investment Decision, we work closely with project proponents and each jurisdiction to reach contractual close, after which Proponents can drawdown funds depending on their funding requirements. As at 30 September 2020, NAIF had reached contractual close of financings valued at approximately $1.1bn (compared to $535m at 30 June 2020). During the financial year, as a result of a financial close and drawdowns under a range of financings, NAIF also accrued $6.3m of income, representing a significant increase in income from last financial year.