Export Finance Australia capabilities strengthened to secure critical supplies for Australia’s economy

Media release

1 April 2026

The Australian Government has provided Export Finance Australia (EFA) with new capabilities to support Australia’s long-term economic resilience through the passage of amendments to the Export Finance and Insurance Corporation Act 1991 in Federal Parliament (Strategic Reserve Bill).

The amendments create a Strategic Reserve to enable the Government to support Australia’s long-term economic security and sovereign resilience. In order to achieve this, the Government will use EFA to underwrite the purchase of additional cargoes of fuel and other strategic materials that are vital to Australia’s economy. This support covers the import of additional fuels and other goods and materials at risk from disruptions to supply chains.

These amendments also give effect to the Government’s commitment to establish a Critical Minerals Strategic Reserve, enabling EFA, on behalf of the Commonwealth, to secure supply, sell and selectively stockpile critical minerals to position Australia as a trusted and stable partner in high-value, vulnerable supply chains.

EFA’s Managing Director & CEO, John Hopkins, said that Australia is navigating unprecedented disruption to global supply chains, as shown in the current fuel security challenge, and that EFA now has additional tools to ensure it can effectively work with Government to ensure Australia’s preparedness in the face of market volatility and geopolitical challenges.

“The Government's decision to expand EFA's capabilities reflects the urgency of this situation and the important role that targeted financial intervention can play in safeguarding critical supply chains for Australian businesses and communities. The additional powers will enable the Government, through EFA, to support industry at a difficult time,” Mr Hopkins said.

“Global supply chains are under real pressure, and these amendments give us powers to act in partnership with industry to buffer Australia against market volatility, whether for additional fuel or other materials critical to our economy and strategic interests.”

Under these new Strategic Reserve powers, as directed by the Government EFA will have the ability to secure additional fuel, critical minerals and other strategic materials that will help underpin Australia’s fuel supply, address regional shortages or supply gaps impacting critical services, and position Australia as a trusted and stable partner in high-value, vulnerable supply chains. These arrangements will be limited to the National Interest Account (NIA), that EFA manages on behalf of Government.

This legislation also provides EFA with flexibility to finance export activity and overseas infrastructure development by removing restrictions that previously limited EFA’s use of equity investments to the National Interest Account.
Mr Hopkins said EFA is moving efficiently to operationalise the new powers in close consultation with the Government and industry.

“We welcome the confidence the Parliament has placed in EFA and will work closely with Government and industry to implement these powers as directed by the Government and in a way that delivers tangible benefits to Australia’s economic resilience and security.”  

Media contact: 

EFA
media@exportfinance.gov.au

About Export Finance Australia

EFA is Australia’s export credit agency. EFA provides commercial finance for export trade and overseas investment and infrastructure development. From small and medium-sized enterprises to large corporates, foreign governments and infrastructure projects, it helps Australian businesses take on the world. In doing so, EFA’s finance supports Australia’s economic security and regional resilience.  

EFA administers the Australian Government’s National Interest Account, which currently includes the Southeast Asia Investment Financing Facility, the Critical Minerals Facility, the Defence Export Facility and lending for the Australian Infrastructure Financing Facility for the Pacific. EFA also provides support to other Commonwealth entities, including Housing Australia and the Northern Australia Infrastructure Facility.