Senator WATT (Queensland—Deputy Opposition Whip in the Senate) (14:36): The largest loan approved by the NAIF, nearly half the value of total loans committed by the NAIF, is a $610 million loan for a pumped hydro project in North Queensland, a project federal Labor supports. The loan has now been delayed after reports emerged that it may lapse. Can the minister advise the Senate: is this $610 million loan proceeding, yes or no?