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Question and Answer Tracking Details

5493 - Treasurer - TCORP LOANS FOR LOCAL GOVERNMENT

Mookhey, Daniel to the Minister for Finance and Small Business representing the Treasurer

(1)           Please list the local governments that received a T-Corp low-cost loan for community infrastructure projects?

(a) What is the amount provided between April 2020 to date?

(2) What is the interest rate applied to the loans provided to local governments by T-Corp?

(3) What eligibility criteria was applied to local governments in order to receive a loan from T-Corp?

(4) Did T-Corp reject any applications for a T-Corp low cost loan from any local Government area (LGA)?

(a) If so, which LGAs had applications rejected?

(b) What projects were rejected by LGA?

(c) What were the reasons for rejection for each project or application rejected?

(5) Are low-cost loans still available to local governments?

(a) If not, why not?

(b) If not, does the Government have any plans to reintroduce loans for local governments?

(i) If so, when?
Answer -

Treasury has advised me as follows:

(1) Loans provided under the Low Cost Loans Initiative (LCLI) are reported at the website of the NSW Department of Planning, Industry and Environment. Please refer to: -https://www.planning.nsw.gov.au/Plans-for-your-area/lnfrastructure-funding/Low-Cost Loans-Initiative

(a) $97,144,902

(2) The interest rate applied to loans to local governments by TCorp is TCorp's wholesale borrowing rate plus a margin of 0.55%. TCorp's 10-year wholesale borrowing rate as at 30 April 2021 was 1.84%.

(3) Refer to the website of the NSW Department of Planning, Industry and Environment. https://www.planning.nsw.gov.au/Plans-for-your-area/lnfrastructure-funding/Low-Cost Loa ns-1 n itiative

(4) No.

(5) Yes.

Question asked on 28 April 2021 (session 57-1) and published in Questions & Answers Paper No. 486
Answer received on 18 May 2021 and published in Questions & Answers Paper No. 500

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