Highway caters for population: Fleming

THE opening of the Reuben Taureka Highway is an opportunity for the Bank South Pacific to participate in a long-term project, chief executive officer Robin Fleming says.
The 11.2km highway from 6-Mile to the Bautam, Central was named after pioneer medical doctor Sir Reuben Taureka.
Fleming told The National that the highway would allow Port Moresby to cater for the expected population growth in the next 10 to 15 years.
“From a development perspective, it really is an amazing project. It’s going to reduce a lot of issues on Port Moresby social demographic, giving people the opportunity to move into more structured housing and commercial arrangement which are not all concentrated in the Central Business District,” he said.
He said there was a facility in place on infrastructure loan with the National Capital District Commission guaranteed by the Government.
“Bank South Pacific approved the facility under that particular guarantee.
It has some redraw capability after the 12-month period,” he said.
He said in the area of infrastructure, it was one of our largest projects the bank had been able to support and be a partner to.
“Bank South Pacific supports the Government in many ways but like every business, you’ve got to see how much of your portfolio is going to one particular sector,” he said.