Latest news with #AustralianInfrastructureFinancingFacilityforthePacific
SBS Australia
30-04-2025
- Business
- SBS Australia
Why the Coalition is promising to spend billions in this 'battleground for influence'
The Coalition has pledged $2 billion towards infrastructure in the Indo-Pacific, hoping to sway voters concerned about national security, as regional development becomes a "battleground for influence". In its latest election bid, the Coalition announced on Wednesday it would boost the Australian Infrastructure Financing Facility for the Pacific (AIFFP) to increase defence and security in the region. If elected, the Coalition would increase its funding for the AIFFP from $4 billion to $6 billion to support finance infrastructure projects like port upgrades in Papua New Guinea. The body partners with governments and private businesses in the region through grants and loans and has been running since 2019. Opposition foreign affairs spokesperson David Coleman said a prosperous Indo-Pacific is "fundamental". "Infrastructure financing has become yet another battleground for influence in our region," he said, referencing longstanding cross-party efforts to ensure China — or any other potentially hostile power — does not exert influence or gain a security foothold in Australia's backyard. "A larger AIFFP under a future Coalition government will work to further strengthen Australia's partnerships with nations across the Pacific and Timor-Leste," Coleman said. "It will complement the defence, security, and other economic ties which were at the core of the Coalition's Pacific Step-up when last in government." The announcement follows criticism from Labor frontbenchers, who have accused Opposition leader Peter Dutton and former prime minister Scott Morrison of leaving a "vacuum" in the Pacific during their last term in government. Since taking office in 2022, Prime Minister Anthony Albanese has made several policies and announcements in an attempt to bolster ties with the Pacific. The government has made a defence pact with PNG, created regional policing and national security initiatives, and established a new visa for Pacific Islanders. While the Indo-Pacific may not be top of mind for voters this election campaign, both major parties have continued to reference growing geopolitical uncertainty, including stock market crashes and potential threats to Australia's national security, as major concerns. China spends billions on projects in the Indo-Pacific and while the Albanese government has worked to restore ties with China, their relationship remains under scrutiny, particularly after a Chinese "spy ship" circumnavigated Australia in March. Albanese said at the time he would "prefer if it wasn't there". "What our task is to do is to make sure that we represent Australia's national interests. We do that each and every day. And I have every confidence in our defence force and our security agencies to do just that," he said. Improving economic ties with the Indo-Pacific could also be viewed as a way to shore up Australia's trade interests, in the wake of Trump's tariff announcements and an expected global economic downturn . Both Dutton and Albanese's relationships with Trump have been in the spotlight this election, as Trump's decisions continue to impact markets around the world and in Australia. Visit the to access articles, podcasts and videos from SBS News, NITV and our teams covering more than 60 languages.-
News.com.au
29-04-2025
- Business
- News.com.au
Coalition promises extra $2bn for Pacific, Timor infrastructure fund
The Coalition has committed another $2bn of funding by way of campaign promises, this time to build infrastructure in the Pacific Islands and East Timor. The money has been earmarked to wrestle back influence from China and comes after US President Donald Trump stripped away $388m from US Pacific support. 'Infrastructure financing has become yet another battleground for influence in our region,' Coalition foreign affairs spokesman David Coleman said. 'Australia's financing supports infrastructure capability, jobs and better services for Pacific Island nations and their communities in a way that is both transparent, and in the interests of those communities,' he said in a statement. An elected Coalition government would boost the government's Pacific infrastructure fund by $2bn, to $6bn. The Australian Infrastructure Financing Facility for the Pacific was established under the last Coalition government and is funding new seaports in Papua New Guinea, Tuvalu and Tonga, and airports and energy grid projects dotted across the region. The campaign promise would lift the fund's lending capacity from $3bn to $5bn, with the remaining $1bn available through grants. Since its creation, the fund has loaned about $1.1bn. Alongside Australian infrastructure, Chinese-built infrastructure is prevalent across the cities and regions of the southern Pacific. In 2022, China and the Solomon Islands signed a security pact that allows Chinese ships to stop and replenish. Later that year, the Pacific nation accepted a US$66m loan from Chinese telco Huawei to build cell towers. A new security arrangement between the Solomon Islands and Australia, signed in December, does not require Chinese forces to leave the islands. Anthony Albanese used the 50th anniversary of Papua New Guinea's independence to back an NRL team in the footy-mad nation. Also announced in December, the yet-unnamed $600m PNG NRL team will enter the league in 2028.
West Australian
29-04-2025
- Business
- West Australian
Coalition promises extra $2bn for Pacific, Timor infrastructure fund
The Coalition has committed another $2bn of funding by way of campaign promises, this time to build infrastructure in the Pacific Islands and East Timor. The money has been earmarked to wrestle back influence from China and comes after US President Donald Trump stripped away $388m from US Pacific support. 'Infrastructure financing has become yet another battleground for influence in our region,' Coalition foreign affairs spokesman David Coleman said. 'Australia's financing supports infrastructure capability, jobs and better services for Pacific Island nations and their communities in a way that is both transparent, and in the interests of those communities,' he said in a statement. An elected Coalition government would boost the government's Pacific infrastructure fund by $2bn, to $6bn. The Australian Infrastructure Financing Facility for the Pacific was established under the last Coalition government and is funding new seaports in Papua New Guinea, Tuvalu and Tonga, and airports and energy grid projects dotted across the region. The campaign promise would lift the fund's lending capacity from $3bn to $5bn, with the remaining $1bn available through grants. Since its creation, the fund has loaned about $1.1bn. Alongside Australian infrastructure, Chinese-built infrastructure is prevalent across the cities and regions of the southern Pacific. In 2022, China and the Solomon Islands signed a security pact that allows Chinese ships to stop and replenish. Later that year, the Pacific nation accepted a US$66m loan from Chinese telco Huawei to build cell towers. A new security arrangement between the Solomon Islands and Australia, signed in December, does not require Chinese forces to leave the islands. Anthony Albanese used the 50th anniversary of Papua New Guinea's independence to back an NRL team in the footy-mad nation. Also announced in December, the yet-unnamed $600m PNG NRL team will enter the league in 2028. At least 40 Chinese state-owned enterprises operate in PNG, the Australian Institute of International Affairs says.
