Kim Carr (Victoria, Australian Labor Party, Minister for Innovation, Industry, Science and Research) Share this | Hansard source

I thank the senator for the question. I do think he should check the Hansard again regarding the Senate estimates. He may well have been misinformed on that occasion as well on the basis of any questions he sought to put to myself or the officers.

The loan was offered through the Export Finance and Insurance Corporation. I have confirmed it was in line with the requirements of the EFIC Act, which allows for loans to be provided in support of Australian export efforts. The facility provides for a secure loan, subject to strict commercial conditions, to protect the Commonwealth’s interest. The details of EFIC’s transactions have remained—as they have on so many occasions under your government as well as ours—commercial-in-confidence. The loan will be managed, if it is drawn down, in accordance with the normal commercial practices.

The question of whether it was on the commercial account or the National Interest Account was a decision taken by government— (Time expired)