Chinese bank officials check out UOG dormitory plan

TWO highly-placed Chinese bank officials yesterday visited the University of Goroka (UOG) for an appraisal for possible soft loans to complete the remaining stages of the student dormitory that is under construction.
Senior officials of Export-Import (EXIM) Bank, Li Ren Song and He Xin, briefly met with Pro-Vice Chancellor (administration) Dr James Yoko, Government representatives and architectural designers of the building, Frame Works Architects.
Principal of Frame Works Architects, Paul Frame, made a detailed presentation on the architectural drawings of the dormitory building, which impressed the officials.
Dr Yoko applauded the detailed presentation of the designs, saying UOG was striving to improve dormitory facilities for students.
He said all these plans and programmes were contained in the university’s Corporate Plan, which set a clear direction for the university.
Dr Yoko thanked Mr Ren and Ms Hi for their visit and Mr Frame for the excellent architectural designs.
Director of UOG’s planning office, Eric Kombeakali, said the visit was only an appraisal for a possible loan to complete the remaining stages of the student dormitory.
He said the bank officials made the visit on behalf of the Chinese government, which signed a general framework agreement with the PNG Government recently.
The agreement was part of China’s commitment to fund certain projects in the South Pacific under soft loan agreements, from which UOG is set to be one of the first to benefit.
The two officials will meet with senior executives of the Department of Finance, Treasury and National Planning as part of the appraisal discussions before they return to China.
Development of the next stages would cost millions of kina should funding be secured for the full completion up to stage six.
The current stage one seven-floor dormitory at UOG is being constructed by China’s Guangdong Foreign Construction Company. It will cater for 336 students.
The PNG Government is providing K27 million for the stage one, which is expected to be completed towards the end of next year.
The original plan for the student dormitory development has six stages, funding for the other five stages is yet to be secured.