FourFourSecond Australia’s National Investment Bank (NIB) is opening an investment fund in the country’s tropical financial sector.
Key points:The fund will be able to offer the most efficient, diversified and low-cost investments in the nation”The NIB will be a new source of investment opportunities for the country and provide capital to stimulate the economy”The fund is expected to bring in up to $200m a year to the economy and will include $100m of direct investment from the Federal Government.
“Key points:”The Nib will be funded by the Federal Budget, the Commonwealth and the State Government”The funds will be managed by a team of independent advisers”The aim is to help the Government to achieve its stated goal of having a diversified, low-carbon economy”Key points”The investment fund will invest in emerging markets and in emerging sectors of the economy, with the aim of supporting growth and employment in the tropical regions”The goal is to support the Government’s stated goal, to be achieved through a low-emissions, climate-smart economy”What are the goals of the new fund?
The fund has been established to assist with the Government and the wider Australian economy in achieving its stated goals, and it will provide an important source of capital for the Government.
It will aim to:Invest in emerging economies and emerging sectors in order to generate jobs and economic growth.
Invest in developing emerging markets to encourage investment in the region.
Invest money into emerging markets that have the potential to generate sustainable jobs and investment.
Invest funds in emerging industries in order for them to become successful and sustainable industries.
The fund’s board includes:David Hirst, managing director and chairman of the Commonwealth Fund; and Jim Gillingham, a former finance minister and the former treasurer of the Australian National University.
“The objective of the fund is to be a source of funding for emerging markets, which is a priority for the Australian Government,” said Mr Hirst.
“In addition, it is important that we develop opportunities for Australian companies and individuals to invest in developing countries and in sectors that have potential to be sustainable, such as emerging technologies.”
The fund aims to attract and retain investment, with its investments focused on emerging economies, including India, China, Indonesia, and Indonesia.
“This fund will provide a reliable source of direct investments and a significant source of liquidity to support our Government in its stated objectives,” Mr Houst said.
“Through this fund, we will encourage investors to look at the economic benefits that will be created by investments in emerging countries and to invest locally, as we can be confident that the investments we are making will provide sustainable economic growth.”
The announcement is being welcomed by the Australian Taxation Office, which welcomed the news.
“Australia has long been committed to a low carbon economy and the new NIB funds will provide the country with the support it needs to deliver this goal,” said spokesperson, Kate Jones.
“It is critical that we support these projects, as they will provide Australia with a diversification of investment options, while providing the Government with an investment pathway for growth in the medium term.”
The Government’s policy to cut emissions to 30 per cent by 2050 is due to be released on Thursday.