00:02Darwin's Danila Dilba Aboriginal Medical Service is running at over capacity,
00:07so it's delighted to get a million dollar grant for a new health centre,
00:12which has helped attract federal government money for the project.
00:16It just meant that it was much easier for us to leverage other funding
00:19if we already had existing commitments.
00:21It's one of 50 million dollars in grants, the new Indigenous body
00:25managing 680 million in NT Aboriginal mining royalties gave out last year.
00:31Since getting control of the money from the federal government two years ago,
00:36Aboriginal Investment NT has set itself the goal of helping Aboriginal people
00:42achieve economic self-sufficiency by funding nation-building projects.
00:47There's one in Groot, the black-lipped oyster project or farm.
00:51A lot of people in tourism, running tourism ventures, safari camps and that sort of thing.
00:59We've got young people who are getting into digital media.
01:04But the flow of mining royalties is dwindling as major mines prepare to close,
01:09so the body has decided to give out relatively small grants
01:13and invest most of the money in a future fund to try to grow its funding bucket.
01:19But hopefully as we move along there's more money going into the bucket.
01:23It's a strategy some analysts think is too cautious to help close the gap.
01:29The passive investment approach and just spending 15 or 20 million a year
01:33is not going to change anything.
01:34He's calling on the body to imitate other successful NT Aboriginal businesses
01:39like Centre Corp which owns shopping centres, housing and car dealers
01:45by making large investments in Aboriginal businesses to grow its bucket.
01:50A proactive investment strategy that delivers benefits across the board
01:54for the vast bulk of Aboriginal people in the NT.
02:00While Aboriginal Investment NT is determined to put $500 million of the money into its future fund,
02:07it hasn't ruled out investing in bigger projects through its grants programme.
02:12We can consider different grants of different sizes absolutely.
02:15It's hoping it can also help link Indigenous projects up with other potential funders.
02:22That's a massive funding for our government needs.
02:24That's all.
02:24That's true.
02:24From the independent sector, a community sector who has a private equity group
02:25and have already had thegangen community.
02:25It's also known as a community sector, its community sector,
02:26as well as energy sector and the businesses and our own sea sector.
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