The Department of Foreign Affairs and Trade has commissioned Stephen Sedgwick AO to conduct an independent review into the infrastructure investment operations of Export Finance Australia (EFA), following 2019 amendments to the Export Finance and Insurance Corporation Act 1991 to enhance EFA's ability to finance infrastructure projects. The review was agreed as part of the Government's July 2019 response to the Senate Foreign Affairs, Defence and Trade Legislation Committee Report on the proposed amendments.

Submissions that address the Terms of Reference can be sent to efa_infra_review@dfat.gov.au by Friday 2 July 2021.

Attachment A provides further information about how submissions may be made.

The final report will be tabled before both Houses of Parliament.

Terms of Reference

The Terms of Reference are:

• Consider the operation of EFA's overseas infrastructure financing functions and the extent to which it has supported the Government's aims and the infrastructure needs of our Pacific neighbours.
• Examine the impact of amendments made by items 1, 2, 4 to 9, 11 and 12 of the Export Finance and Insurance Corporation Amendment (Support for Infrastructure Financing) Bill 2019 (the Bill) on EFA's ability to finance overseas infrastructure projects. Table 1 at Attachment B summarises these amendments.
• Consider the views of a wide range of stakeholders, including those who provided submissions to the 2019 Senate Committee inquiry into the Bill.
• Not consider the operations of the Australian Infrastructure Financing Facility for the Pacific.

Documents

Attachment A

• Attachment A: Export Finance Australia: independent review of overseas infrastructure financing powers – further information regarding Submissions [DOCX 19 KB]
• Attachment A: Export Finance Australia: independent review of overseas infrastructure financing powers – further information regarding Submissions [PDF 127 KB]

Attachment B

• Attachment B: Export Finance Australia: independent review of overseas infrastructure financing powers – summary of amendments to the Export Finance and Insurance Corporation Act 1991 (Efic Act) [DOCX 22 KB]
• Attachment B: Export Finance Australia: independent review of overseas infrastructure financing powers – summary of amendments to the Export Finance and Insurance Corporation Act 1991 (Efic Act) [PDF 107 KB]