W. Bank project to boost oil palm
villages
By FRANK ASAELI
A WORLD Bank project to increase productivity in oil palm communities in Oro and West New Britain provinces will be launched today.
Set to start next month, the project will cost about US$68.8 million (K181 million).
It will be funded by an International Development Association (IDA) specific credit equivalent to US$27.5 million (K72 million).
Additional funding of US$7.4 million (K19.4 million) will come from the Government. Other funding will come from the West New Britain provincial government (US$7.2 million or K18.9 million); Oro provincial government (US$3.5 million of K9 million); palm oil milling companies (US$5.7 million or K15 million); smallholder oil palm growers (US$7.3 million or K19.2 million; and PNG Sustainable Development Program (PNGSDP) [US$10.2 million or K27 million].
The project aims to increase the revenue of oil palm farmers through a community-based approach to agricultural development in Oro and West New Britain provinces.
Benson Ateng, World Bank country manager for PNG, described the project as a “core element of the new country strategy”, through its support for poverty alleviation.
The project has three components – smallholder productivity enhancement, local governance and community participation and project management and institutional support where the component would strengthen the capacity of the Oil Palm Industry Corp (OPIC) to manage the project.
The project documents will be signed by Minister for Treasury and Finance Patrick Pruaitch, Mr Ateng and acting OPIC general secretary Felix Bakani.
This is with the assistance of a management agency for the second component implementation and the smallholder sector, through support training, research and studies.
“This innovative project will test approaches for involving local governments in the delivery of important economic services,” Mr Ateng said.
Lessons from this project will then be integrated into the design of other activities under the new country assistance strategy.
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