The NTMA is known as the National Development Finance Agency (NDFA) in carrying out the functions below. The NDFA was established on 1 January 2003; its key functions are now mandated within the National Treasury Management Agency (Amendment) Act, 2014 and Ministerial Guidelines issued by the Department of Public Expenditure and Reform, in consultation with the Department of Finance. The services provided include:
- the provision of advice to State authorities of what, in the opinion of the Agency, are the optimal means of financing the cost of public investment projects in order to achieve value for money.
- the provision of advice to State authorities on all aspects of financing, refinancing and insurance of public investment projects to be duly undertaken by means of public private partnership arrangements or within the public sector.
- entering into a public private partnership arrangement on behalf of State authorities (with certain exceptions such as Transport Infrastructure Ireland) with a view to transferring the rights and obligations under such an arrangement back to such State authority.
- acting as agent for any State authority in connection with the entry or proposed entry by that State authority into a public private partnership arrangement.
- entering into arrangements or contracts to procure as agent for the Minister for Education any public investment project in relation to a school, educational facility or other building or structure, including the financing, management, design and construction of such building or structure, as that Minister may from time to time designate.
- where requested by the relevant Minister, undertake the administration of the PPP contract on behalf of the Sponsoring Agency.