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Establishment of the Australian Infrastructure Financing Facility for the Pacific
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This audit would assess the effectiveness of the Department of Foreign Affairs and Trade’s (DFAT’s) design and inception planning of the Australian Infrastructure Financing Facility for the Pacific (AIFFP). This audit would include an examination of frameworks under which the AIFFP board has been established and will operate, and the efficacy of DFAT’s management of arrangements with Export Finance Australia.
The AIFFP was established in July 2019. The facility uses aid grant funding of up to $1 billion, combined with long-term loans of up to $3 billion, to support infrastructure development in Pacific countries and Timor-Leste (over seven years).