Significant reforms to the Northern Australia Infrastructure Facility (NAIF) have passed through the House of Representatives and will now head to the Senate.
The reforms aim to speed up delivery and broaden the scope of the NAIF to support job-creating projects.
Resources, Water and Northern Australia Minister Keith Pitt said the reforms follow extensive consultation with stakeholders throughout northern Australia.
“We will ensure NAIF has the flexibility it needs to further drive economic activity, create jobs, drive population growth and open up new opportunities for people across northern Australia,” Pitt said.
“NAIF supports a wide range of industries and I look forward to the Bill passing through the Senate so we can deliver new projects for the north as soon as possible.”
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Pitt said people throughout the north in cities, regional and remote communities deserve the opportunities that NAIF can deliver.
Assistant Minister for Northern Australia, Michelle Landry, said the NAIF has already had a significant positive impact on development in the north.
“Our reforms will help NAIF play an even more crucial role at a time when the Government is committed to driving opportunities as part of the national economic recovery from the COVID recession,” Landry said.
“NAIF investments in health, education, resources, energy and agriculture projects , will support more than 7,200 jobs in Australia’s north and generate billions in economic activity.”