The federal government has declared the National Reconstruction Fund open for business, officially delivering the NRF Corporation its investment mandate – the investment framework that will guide decisions and a key milestone toward getting money flowing.
The investment mandate includes a benchmark rate of return of 2-3 per cent above the five-year government bond rate, which is currently just under 4.1 per cent. This is the same benchmark as the Clean Energy Finance Corporation which had its benchmark rate lowered in July.
Investment of the $15 billion fund through loans, guarantees, and equity investments is being governed by a nine-person board, with former Clean Energy Finance Corporation director Martijn Wilder as chair.
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