And then we get to the announcement; funding for two investment funds:
The Government will invest AUD$175 million in IFM Investors’ Asia-Pacific Debt Fund and USD$50 million in a new Southeast Asia Public-Private Partnership (PPP) investment fund established by Australian infrastructure specialist Plenary.
These funds are designed to make it easier for Australian firms to bid and spend on Asian infrastructure projects.
Anthony Albanese:
Today, I’m very pleased to announce we’re delivering on our commitments to the region. We will invest $175 million into IFM Investors’ Asia-Pacific Debt Fund, a leading global investment manager owned by Australia’s industry superannuation funds.
This is a cornerstone transaction which will boost IFM’s expansion here into South-East Asia. Our investment will open the door to South-East Asian markets for 15 Australian super funds, paving the way for these funds to deepen their engagement and investments across the region. We’ll also inUS$50 million to establish a new platform by leading Australian public-private partnership infrastructure company Plenary.
Plenary is an Australian infrastructure champion. With this new platform, we’re supporting the direct export of Australian expertise and know-how to deliver nation-building projects in South-East Asia through public-private partnerships.
This platform is expected to support much-needed infrastructure projects in Indonesia, the Philippines, and elsewhere. Together, these investments represent a major step forward in my government’s delivery of our South-East Asia Economic Strategy, to boost Australian exports and investments in the region, back the growth of Australian companies, and support the region’s infrastructure needs.
1 Comment
Albanese announces "public-private partnerships" and hundreds of billions of our hard earned dollars into a business slush fund, while people are living on the streets because they cannot afford a home.
Really shameful I reckon. This keeps happening in plain sight and no one notices or cares.
If the government wants to invest in infrastructure, here or elsewhere then they should do it alone... don't just give business a taxpayer subsidised "smooth path".