Legislation
The Australian Infrastructure Financing Facility for the Pacific (AIFFP) was established in July 2019, and is operated by the Department of Foreign Affairs and Trade (DFAT) on behalf of the Australian Government.
Export Finance Australia (EFA) will issue loans on behalf of the AIFFP under the Export Finance and Insurance Corporation Act 1991.
The AIFFP Design Document outlines the principles, proposed outcomes, governance and arrangements of AIFFP.
Purpose and Functions
The AIFFP’s overarching objective is to advance Australia’s national interest by contributing to a stable, secure and prosperous Pacific.
The AIFFP aims to deliver three high level outcomes:
- ensuring Pacific countries and Timor-Leste have increased access to capital to support quality, resilient and inclusive economic infrastructure
- delivering infrastructure financing that meets the development needs of Pacific countries and Timor-Leste
- being a partner of choice for financing infrastructure in the Pacific and Timor-Leste.
The AIFFP projects may involve loans, grants, or a combination of both. Loans may be to sovereign, state-owned enterprise or private sector partners.
Responsible Ministers
The Minister for Foreign Affairs and the Minister for International Development and the Pacific are the responsible Ministers for the AIFFP.
Board appointment and membership
The AIFFP Board is an advisory body that considers projects and makes recommendations to Ministers for projects to be financed by the AIFFP. The Government retains decision-making authority for all AIFFP investments.
The AIFFP Board Charter specifies the appointment criteria for the Board.
The AIFFP Board is chaired by the Head of the Office of the Pacific. The DFAT Secretary appoints all DFAT AIFFP Board members, who are ex-officio. Relevant departmental appointments to the AIFFP Board are nominated by Department Secretaries. Independent external members are appointed by the Minister for Foreign Affairs.
Reviews
Past reviews
A review on the establishment of the AIFFP was published in 2022.
Further information
For queries regarding the AIFFP, or if you are seeking funding from the AIFFP, please refer to the Australian Infrastructure Financing Facility for the Pacific website.
Queries on policy matters regarding the AIFFP should be directed to the Department of Foreign Affairs and Trade, which has the primary portfolio responsibility for the AIFFP.
