A Northern Australia Infrastructure Facility (NAIF) loan of up to $76 million is set to play a vital role in supporting CQUniversity through the economic downturn caused by the COVID-19 pandemic.

Minister for Resources, Water and Northern Australia Keith Pitt said the loan would secure planned capital works and upgrades to digital infrastructure over the next two years at Australia’s largest regional university.

“This is a great example of how crucial the NAIF will be to Northern Australia as we emerge from the coronavirus pandemic,” Mr Pitt said.

“This funding decision will support over 400 direct and indirect jobs, save another 200 jobs in regional areas, and future-proof remote learning.

“NAIF support for the capital and infrastructure programs at CQUniversity will ensure this crucial institution will be able to continue to deliver quality higher education courses to students around the country, particularly in remote centres across northern Australia.”

The capital works and digital upgrades had been at risk without the NAIF investment, he said.

Federal Member for Leichhardt Warren Entsch, at the funding announcement in Cairns, said he saw this as a steppingstone for the next project – which was a CQU purpose-built Cairns City Campus.

The Federal Government is providing $225.2 million in funding to CQU in 2020, an increase of $45.1 million since 2013.

It has also committed $30 million to CQU between 2020 and 2023 towards the construction of the CQU School of Mining and Manufacturing.