NSW Treasury Corporation (TCorp) was established in July 2015 to encourage local councils to fund infrastructure through responsible and lower cost borrowings.
Councils which have demonstrated their financial sustainability can access low-interest, safe and secure TCorp loans to fund new infrastructure and upgrade existing facilities.
TCorp has so far provided $678 million in low-cost finance to local councils across the State, investing in projects that will deliver real and lasting benefits to these local communities.
Forty-three councils have accessed TCorp low interest loans to fund a wide range of new or upgraded infrastructure such as aged care facilities, airports, art galleries, parks, roads, bridges, footpaths, drainage, carparks, sporting ovals, pools, and water and sewerage.
TCorp offers loans to local councils at a discounted interest rate compared to the commercial banks, resulting in tangible savings for NSW ratepayers.
The availability of safe, secure and low-cost loans is also encouraging councils to place a greater focus on the management and renewal of their assets.
The infrastructure backlog across the NSW local government sector has been reduced from $7.5 billion in 2010-11 to $3.4 billion in 2018-19.
More information about TCorp can be found here.