The Education Investment Fund (EIF) was announced in the 2008-09 Budget and is a major component of the Government's Education Revolution. The role of the EIF is to build a modern, productive, internationally competitive Australian economy by supporting world-leading, strategically-focused infrastructure investments that will transform Australian tertiary education and research. 

The EIF will provide funding for projects that create or develop significant infrastructure in higher education institutions, research institutions and vocational education and training providers, in order to:

• transform Australia’s knowledge generation and teaching capabilities
• boost participation in tertiary education
• position Australia to meet domestic skills needs now and into the future
• enhance Australia’s innovation capacity
• invigorate the growth of Australia's research capabilities
• enhance Australia's international competitiveness in education and research.

The EIF is one of three Nation-building funds established by the Government, along with the Building Australia Fund and the Health and Hospitals Fund.

Legislation

The EIF is one of the three Nation-building Funds established by the Nation-building Funds Act 2008.  The Nation-building Funds Act 2008 received Royal Assent on 18 December 2008.