The National Infrastructure Fund Bill, 2026

In short

This Bill creates the National Infrastructure Fund as a body corporate to finance major projects like highways, railways, ports, and energy systems. It sets up a Board of Directors to manage the Fund and competitively recruit a Chief Executive Officer. The Bill aims to attract private investments, including pension funds and sovereign wealth funds, to reduce the national debt burden. It also outlines strict guidelines for project preparation, feasibility studies, and financial transparency.

Clause by clause

1. Clause 4

   Purpose of the Fund

   Defines the Fund's purpose to accelerate key infrastructure like roads, ports, and water systems, and to mobilize private capital.

2. Clause 6

   Board of Directors

   Establishes a Board of Directors, including an independent chairperson and competitively recruited independent directors, to manage the Fund.

3. Clause 12

   Powers of the Board

   Grants the Board powers to invest in projects through equity or debt, while prohibiting borrowing against its own balance sheet.

4. Clause 15

   Chief Executive Officer

   Provides for the competitive recruitment of a Chief Executive Officer for a four-year term, renewable once.

5. Clause 21

   Investment Policy

   Requires the Board to develop a five-year Investment Policy specifying priority sectors, expected returns, and exposure limits.

6. Clause 23

   Feasibility Studies

   Mandates the Fund to conduct feasibility studies to ensure projects are commercially viable, affordable, and socially beneficial.

7. Clause 29

   Sources of Funds

   Outlines the sources of the Fund, including privatization proceeds, parliamentary appropriations, and donations or loans.