$5 billion for loans, not funding

摘要

As part of the federal government's 2015 budget, $5 billion will be offered in the form of cheap loans for new roads, water, electricity, airports and rail projects across Western Australia, Queensland and the Northern Territory. Treasurer Joe Hockey described Australia's north as "an extraordinary area of untapped promise and an exciting frontier for economic development filled with abundant resources and talented people". The loans are expected to encourage infrastructure projects through public-private partnerships which will be outlined in greater detail after the expected release of a white paper on Northern Australia development in June. NT chief minister Adam Giles welcomed the budget announcement, saying his government had lobbied hard to increase private sector investment in northern infrastructure and "its a down payment on the development of a sustainable Northern Australia". However, NT opposition leader Michael Gunner said the loan fund will not generate the type of infrastructure the Territory needed.