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 the 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 on the optimal financing of public investment projects by applying commercial standards in evaluating financial risks and costs. The NDFA’s overriding objective is to maximise value for money for the Exchequer in its provision of a centralised expert service to Government Departments and certain other State Authorities that are designated under the National Treasury Management Agency (Amendment) Act, 2014.
- the procurement of PPP projects (with certain exceptions such as Transport Infrastructure Ireland). The NDFA is responsible for delivering the procurement of a project referred to it (with appropriate input from the Sponsoring Departments) and will hand it over to a Department after construction is complete and the asset is operational. Sponsoring Ministers continue to be responsible for all aspects of the selection and approval of projects, including the decision to procure the project as a PPP, the setting of project budgets, output specifications and other service requirements and agreeing the Public Sector Benchmark (compiled with the assistance of the NDFA). The NDFA is responsible for procuring projects within the parameters set out by the sponsoring department/agency.
- the provision of contract management and support services of the operations and maintenance of certain operational PPP schools and other specified projects.
- the direct procurement of certain Exchequer-funded projects on behalf of the Department of Education.