The Australian Government is strengthening the Northern Australia Infrastructure Facility (NAIF) to create jobs and new economic opportunities for communities across the North.
The Northern Australia Infrastructure Facility Amendment Bill 2026 has been introduced to Parliament to extend the NAIF's investment period for ten years to 30 June 2036.
The decision means the $7 billion NAIF will continue to provide finance for projects and support jobs and development across northern Australia for another 10 years.
NAIF has already delivered more than $4 billion of commitments in support of northern economic development.
The bill also creates joint ministerial responsibility across the Minister for Northern Australia and the Minister for Finance to bring NAIF into line for best practice for Commonwealth Direct Specialist Investment Vehicles.
Minister for Resources and Northern Australia Madeleine King said the Bill ensures NAIF will remain a stable, reliable and accountable source of finance to support jobs, growth and vital infrastructure across Northern Australia.
"A strong north means a strong Australia," Minister King said.
"This Bill future‑proofs NAIF so it can keep partnering with business and communities to deliver jobs, investment and transformational projects, while ensuring accountability and governance.
"The Albanese Government understand the importance of northern Australia to building a future made in Australia.
"The Northern Australia Infrastructure Facility is here to stay."
Amendments implement recommendations of the 2024 Independent Statutory Review of the NAIF Act, which consulted widely on how NAIF could best contribute to economic development in the north.
The Bill requires future reviews of the NAIF Act to commence after 30 June 2029 and 30 June 2034, including considering whether to extend the investment timeframe beyond 2036.
The review of the NAIF was led by the Hon Warren Snowdon with support from Professor Peter Yu and Dr Lisa Caffery.
