False
New bilateral loans between 1 July 2022 – 30 June 2024
| Date of loan agreement | Lender | Beneficiary | Use of proceeds | Loan amount | Loan currency | Interest rate | Maturity (years) | Grace period (months) | Collateral |
|---|---|---|---|---|---|---|---|---|---|
| 18/10/2022 | AIFFP* | Republic of Fiji | Transport infrastructure | 40,000,000 | USD | SOFR† + margin | 10‑15 | 36 | N/A |
| 15/12/2022 | AIFFP* | Democratic Republic of Timor‑Leste | Transport infrastructure | 40,000,000 | USD | SOFR† + margin | 20‑25 | 60 | N/A |
| 15/12/2022 | Australian Government | Independent State of Papua New Guinea | Budget Support | 750,000,000 | AUD | Australian Government cost of borrowing‡ | 20‑25 | 0 | N/A |
| 8/12/2023 | Australian Government | Independent State of Papua New Guinea | Budget Support | 600,000,000 | AUD | Australian Government cost of borrowing‡ | 20 | 0 | N/A |
Total outstanding bilateral loans as of 30 June 2023
| Country name | Export Finance Australia | International Monetary Agreements Act | Total (AUD) |
|---|---|---|---|
| Cuba | $8,766,912.76 | $8,766,912.760 | |
| Indonesia | $399,093.93 | $1,250,000,000.00 | $1,250,399,093.930 |
| Iraq | $94,357,895.62 | $94,357,895.620 | |
| Palau | $13,359,127.15 | $13,359,127.150 | |
| Papua New Guinea | $819,420,114.77 | $1,849,038,440.45 | $2,668,458,555.22 |
| Solomon Islands | $16,005,738.48 | $16,005,738.480 | |
| Sri Lanka | $66,311,313.45 | $66,311,313.450 | |
| Trinidad and Tobago | $248,269,878.33 | $248,269,878.33 |
Note: This table does not include the 2004 Australia-Indonesia Partnership for Reconstruction and Development (AIPRD) lending to Indonesia.
* Australian Infrastructure Financing Facility for the Pacific
† Secured Overnight Financing Rate
‡ At the time of drawdown as determined by the daily yield on Australian Government bonds with a 10 year maturity