Indigenous Economic Development Trust

The Indigenous Economic Development Trust (IEDTrust) was established by IBA to support Indigenous economic development and national Community Development Employment Projects (CDEP) policy reforms. Assets previously funded through grants from the Australian Government, and over which the Commonwealth holds a contractual or equitable interest, can be transferred to the IEDTrust. An asset can be transferred only if a CDEP organisation has ceased to deliver the program for which the asset was originally funded. Assets owned by other government agencies may also be transferred to the IEDTrust.

The IEDTrust leases vehicles, plant equipment or property to existing CDEP organisations. An opportunity also exists to lease the transferred ex–CDEP assets to established or new Aboriginal and Torres Strait Islander organisations, enabling the organisation to consolidate, establish or expand commercially viable businesses.

Leases provided by the IEDTrust have the following features:

• operating (rental agreement) or asset (rent to buy agreement) lease options
• leasing of new or used assets
• monthly payments
• no application fee
• fixed interest (based on application criteria) for the term of the lease.

With the cessation of non-remote CDEPs from 30 June 2009, the next 12 months should see an increase in the number of assets identified for transfer to the IEDTrust by FaHCSIA.

The IEDTrust delivers social as well as commercial and employment outcomes. Recently, for example, it leased a bus to a Northern Territory CDEP organisation to provide a much needed transport solution for outstation residents.

IBA staff participating in local NAIDOC Week celebrations in Adelaide (L–R): Narelle Rowell, Megan Highfold, Luke Taylor and Cheryl Ross