Former bank executive Laurie Walker will lead the $5 billion Northern Australia Infrastructure Facility in Cairns.
Ms Walker has held key leadership roles with banking and finance organisations including ANZ and Commonwealth Bank, and has been announced as chief executive officer.
She will live and work in Cairns.
Minister for Resources and Northern Australia Matt Canavan said Ms Walker had a “deep understanding” of specialised lending and has a full range of experience including identifying investment opportunities, negotiation, completing due diligence and closing the deal.
“Ms Walker understands the challenges facing infrastructure investment and is committed to supporting economic growth across northern Australia.
“She will be based at the NAIF headquarters in Cairns but will work with stakeholders across the region.”
Ms Walker’s appointment is another step in the Australian Government’s bid to create jobs and investment in the region, through the NAIF.
Mr Canavan said to date, the NAIF had received more than 70 enquiries about project funding.
“One project is undertaking due diligence and another 13 are working towards a formal investment proposal. These projects represent a total investment of over $10 billion,” Mr Canavan said.
“Not all will receive assistance, so I encourage others to bring forward their ideas for vital Northern Australia infrastructure projects.”
Earlier this week, Mr Canavan presented the Australian Government’s Annual Statement on Northern Australia, outlining the significant and ongoing progress to realise the enormous economic potential of northern Australia through the delivery of road, rail and water infrastructure.
“Already we have delivered 21 different measures to energise development of the north laid out in the Developing Northern Australia White Paper,” Mr Canavan said.
“This includes upgrading road, rail and remote airstrips and the expansion of business services, like the $13.6 million Northern Australia Tourism Initiative and the opening of a Major Projects Approval Agency office in Darwin.
“We have announced almost $500 million in investments to upgrade strategic road infrastructure, including sealing the Hann Highway, a critical part of the inland route from Cairns to Melbourne which provides an important alternative to the Bruce Highway, and further upgrading the Outback Way east west route.
“On top of the $1 billion commitment to help protect the Great Barrier Reef, the Australian Government has also announced over $920 million in additional funding for projects and investments across northern Australia that further build on the White Paper.
“While northern Australia is only 40 per cent of our landmass, it receives 60 pc of national rainfall. The sheer volume of water in the north creates opportunities for growth in a challenging landscape, so we are progressing dam construction and 15 water feasibility evaluations across the region.”
Mr Canavan said the government was spending $12.4 million on boosting biosecurity work across the region with 17 new Indigenous ranger groups joining 40 existing groups.
“The north already punches above its economic weight, contributing almost 12 pc of GDP, despite having only 5.5 pc of the nation’s population.
“Our long-term vision and investments in the region will underwrite further economic growth to drive jobs, investment and expansion in the north, with flow on benefits to our national economy.”
