Bank focusing on investment

THE World Bank country manager for PNG Patricia Veevers-Carter will lead a programme comprising US$399 million (K1.2 billion) of investments in the country.
Prime Minister Peter O’Neill yesterday officially welcomed her to the country.
O’Neill said PNG’s longstanding partnership with the World Bank group was focused on the long-term development aspirations of the country and looked forward to it continuing.
The investments focus on agriculture, road maintenance and rehabilitation, water supply and sanitation, urban youth employment, rural service delivery including rural communications, the energy sector and access to finance for small-to-medium enterprises.
Veevers-Carter reconfirmed the World Bank’s commitment to support PNG.
She said the group had scaled up its engagement in Papua New Guinea and was committed to continuing this support as the country moved towards middle-income status through an important period of challenge, change and growth.
“I look forward to continuing our work with the Government, authorities, civil society and the private sector and development partners as we strive to support PNG’s long-term development goals,” she said.
Veevers-Carter was the World Bank country manager in Tajikistan based in Dushanbe before coming to PNG.
The World Bank Group’s engagement in PNG is guided by a six-year country partnership framework (2013-2018).  The strategy aims to ensure everyone, regardless of their gender, where they live, or their social and economic circumstances, will benefit equally from PNG’s development goals.