ADB: Infrastructure supports growth

 INFRASTRUCTURE is important to support the growth of productive sectors in the country, an Asian Development Bank official says. 

Papua New Guinea Resident Mission country economist Yurendra Basnett said infrastructure development was vital as it would ensure diversification in the economy.

“This economy is largely driven by commodities and it has always been,” he said.

“There have been quite a lot of publications about economic diversification. 

“But it must be driven on the backbone of infrastructure so that people can take their products to the markets.

“There needs to be economic diversification, but infrastructure is going to play an important role.

“This will see PNG diversify from mineral commodities to relying heavily on agriculture and other sectors.”  ADB country director Marcelo Minc said the bank was a partner in development and remained focused on helping the Government with priority infrastructure investment.

“We are increasing our help on renewable energy, rural health and microfinance initiatives,” he said.

ADB’s assistance programme in PNG is focused on transport infrastructure in the highlands region road network, maritime safety and civil aviation. 

Details of ADB’s portfolio performance in 2015 were provided to include the Civil Aviation development investment programme, which was to improve 21 airports to provide safer, more secure and all-weather air transport services.

Disbursements from ADB projects in PNG are expected to total US$212 million (K623.5m) in 2015