The National Development Finance Agency (NDFA) was established on 1 January 2003. One of its principal functions is to advise State Authorities on the optimal financing of priority 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. The NDFA provides a centralised expert service to Government Departments and certain other State Authorities that are designated under the National Development Finance Agency Act, 2002. The NDFA’s role includes advising on the financial aspects and risk evaluation of Ireland’s public-private partnership procurement projects such as road, rail and broadband infrastructure and raising or arranging finance for National Development Plan projects. It works closely with State Authorities undertaking infrastructure projects by providing advice on the financial component of invitations to tender and assessing such tenders from a financial perspective. The NDFA also has the power to raise funding itself or through special purpose companies up to a total of 5 billion euro to finance infrastructure projects.