Minister for Resources, Water and Northern Australia Keith Pitt has announced a new Chair and board members for the Northern Australia Infrastructure Facility (NAIF).
Minister Pitt said the new Chair and board members had the credentials to lead the $5 billion NAIF through its next phase after Parliament approved reforms which widen the facility’s investment options to support projects across northern Australia.
Minister Pitt said businesswoman and corporate leader Tracey Hayes from the Northern Territory has been appointed Chair of the NAIF Board for a three-year term.
Ms Hayes has extensive corporate and governance experience. A former Chair of the Darwin Waterfront Corporation and CEO of the Northern Territory Cattlemen’s Association, Ms Hayes also serves on the Australia Indonesia Institute Board and the National Drought and Flood Response and Recovery Agency Advisory Board.
Ms Hayes takes over from Justin Mannolini (WA), who has been acting Chair since March. Mr Mannolini, who has extensive experience in investment banking and corporate governance, has been re-appointed to the Board for another three years.
Indigenous investment and community development specialist Kate George (WA) has also been reappointed to the NAIF board for three more years.
The new board member is project management specialist Stephen Margetic from the Northern Territory who will serve for three years from July 1.
“The appointments ensure the NAIF has the breadth of skills and leadership experience needed to lead the organisation through its next phase, with its mandate extended until July 2026 and a series of reforms which give NAIF more financial options to support opportunities, jobs and development in northern Australia,” Minister Pitt said.
“I thank outgoing board members Belinda Murphy, Karla Way-McPhail and Bill Shannon for their work and contribution to NAIF, and for building NAIF into a key source of funding for development projects across the north.”
Announcements will soon be made on two further NAIF board appointments and will include Queensland representation.
Since it started operations in 2016, NAIF has committed $2.9 billion in finance for projects which are forecast to generate $9.4 billion in economic benefit and support around 9,000 jobs.