The Albanese Government is making a long-term commitment to stronger investment, jobs and economic opportunities across Australia's north.
Minister for Resources and Northern Australia Madeleine King has announced plans to extend the operations of the Northern Australia Infrastructure Facility (NAIF) for a further 10 years.
The decision means the $7 billion NAIF will continue to provide finance for projects and support jobs and development across northern Australia well beyond the current investment deadline of June 30 next year.
"By securing the north, we are securing the future of all Australians," Minister King said.
"We are driving sustainable development to create jobs, support First Nations communities, build resilient infrastructure, and position Australia as a leader in critical industries.
"The Northern Australia Infrastructure Facility has been a catalyst in getting crucial projects off the ground and helping to diversify the economy of northern Australia.
"The continuation of NAIF for another decade will reassure communities and stakeholders in the north that the Northern Australia Infrastructure Facility is here for the long term."
NAIF has a current portfolio of 32 project investments - 14 in Queensland, 10 in Western Australia and eight in the Northern Territory - representing around $4.3 billion in approved loans for projects which are forecast to generate more than $33 billion in public benefit and support thousands of jobs across the north.
Minister King said she would introduce legislation to replace the existing expiry of NAIF's investment period and to introduce a review of NAIF's operations every five years to make sure the NAIF remains effective and fit for purpose.
The announcement follows the outcome of a statutory review of NAIF, tabled in August, which found overwhelming support for NAIF across government, industry and from the public.
Minister King made the announcement while delivering the Annual Statement to Parliament on Northern Australia, and the 2025 progress report on the Northern Australia Action Plan 2024-2029.
The report outlines progress against the 17 areas of continued focus and six policy priority areas for the Government and highlights advancements made through investment and innovation.
The Minister's full statement to Parliament is available on https://www.infrastructure.gov.au/department/media/publications/minister-northern-australia-2025-annual-statement-parliament.
The Northern Australia Action Plan 2024-2029: Annual Progress Report 2025 is available on: https://www.infrastructure.gov.au/department/media/publications/northern-australia-action-plan-2024-2029-annual-progress-report-2025.
