For information on the Education Investment Fund, please see the Deputy Prime Minister, the Hon Julia Gillard MP's budget media release, available at the below link.
The EIF is one of three funds being established by the Government, along with the Building Australia Fund and the Health and Hospitals Fund.
On 14 October 2008 the Prime Minister announced that the Government will fast track its nation-building agenda to help shield Australian from the global financial crisis. Further, the Government committed to:
- Speed up the implementation of the Government's Nation Building Funds, so that projects can be funded as early as possible.
- Accelerate the establishment of boards for the Health and Hospitals Fund and the Education Investment Fund.
For information please see the Prime Minister's media release.
Proposals which will be considered in this fast-tracking process will be assessed under the following interim evaluation criteria.
Principle 1: Projects should address national infrastructure priorities
Interim Evaluation Criteria A: Extent to which the proposal addresses national priorities
All proposals will need to demonstrate that they are consistent with or complement the Australian Government’s priorities for tertiary education and research.
Interim Evaluation Criteria B: Projected positive impact on enhancing capacity
Projects will be evaluated against the extent to which they will deliver the Australian Government’s objective of strategically transforming the capacity of Australian tertiary education and research.
Proposals must demonstrate that their project will transform the capacity of a) their own organisation and b) their nominated sector.
Interim Evaluation Criteria C: Alignment of the project with the proponent organisation’s priorities and strategic directions
Proposals will be required to demonstrate alignment of the project and its outcomes with the strategic directions and aspirations of the organisation or organisations.
Principle 2: Projects should demonstrate high benefits and effective use of resources
Interim Evaluation Criteria D: Projects result in improvements consistent with the level of investment
Proposals will need to demonstrate that they provide good value for money. All proposals must provide a clear indication of the direct and indirect economic, social and environmental costs and benefits of the proposal on the sector they have nominated. Proposals must also clearly explain how the benefits justify the costs.
Principle 3: Projects should efficiently meet infrastructure needs
Interim Evaluation Criteria E: Extent of co-investment and collaboration
Projects that involve strong collaborations and partnerships in their implementation and/or that will lead to a high degree of collaborative activity following their completion will be highly regarded. All proposals must include details on whether the project has tentative or agreed collaborative partners or co-investors and specify the nature and extent of any co-investment or collaboration.
Interim Evaluation Criteria F: Project quality & efficiency
Proposals will need to be well designed, well researched and strategic. Project proposals should be well advanced in order to avoid significant delays between funding decisions and work commencing on the ground. Proposals must demonstrate that a range of options for achieving the outcomes of the project have been considered, and that the option put forward in their proposal is the most effective, strategic option.
Principle 4: Projects should demonstrate they achieve established standards in implementation and management
Interim Evaluation Criteria G: Capacity of the organisation to support, maintain and integrate new infrastructure into ongoing business operations
All proposals must show how the financial planning, business management and governance structures of the organisation ensure that it has the capacity to integrate facilities funded by the EIF into their ongoing business operations. The proposal must also describe the extent and source of any additional non-EIF funding required to ensure the realisation of expected benefits.
Interim Evaluation Criteria H: Project readiness
The strength and readiness of projects will be an important consideration in assessing proposals. All proposals must:
- demonstrate evidence that the project is well-advanced in terms of planning by key stages. If a feasibility study has been conducted, or an implementation plan or risk management plan has been developed, this should be indicated;
- demonstrate that the organisation currently has, or has a clear and achievable plan to acquire, the necessary expertise to ensure the facilities are used to best effect; and
- demonstrate that the project has been developed with a concern for environmental sustainability.
Further information on the EIF will be published on this site as it becomes available. Enquiries can be emailed to eif@deewr.gov.au.