Intervention funds placed in trust

National, Normal

The National, Wednesday March 12th, 2014

 THE long-awaited 2013 K100 million special intervention fund (SIF) intended for Bougainville will be placed in a trust account to cater for infrastructural development in the region this week.

Autonomous Bougainville government President Chief John Momis revealed this yesterday during the first meeting of the ABG House of Representatives for 2014.

“A total funding of K200 million, which includes the 2013 and 2014 of the SIF, will be used to cater for these projects,” Momis said.

He said K145 million had been allocated for projects approved by the joint supervisory board meeting while K55 million would be used for the ABG nominated projects.

Major projects approved by the JSB are the K42 million upgrade and sealing of the Buka Ring Road, K40 million upgrade of the Kokopau-Buin Road and K15 million for the reopening of the Aropa Airport.

Included is the K20 million water supply and  sanitation project for Arawa and Buka towns respectively and the reconstruction of the Arawa General Hospital.

The ABG projects will see K11.5 million allocated for education infrastructure and K8 million economic recovery, K7.5 million for purchase of a vessel to service the coastal areas and atolls of Bougainville.

A further of K5 million has been allocated for the ABG Public Service House project, another K5 million for the Panguna negotiations along with several road and development projects, amounting to K55 million for the ABG nominated projects.

Momis said the recent visit by Prime Minister Peter O’Neill to Bougainville had strengthened the level of cooperation between the two governments.

“The excellent work under the leadership of Chief Secretary Sir ManasupeZurenoc and Bougainville acting chief administrator created a consensus to allow the agreed distribution of the 2013 and 2014 SIFs of K200 million,” Momis said.

He said the  projects would be managed through the project management unit and contracted transparently and the Bougainville administration would report to the Bougainville executive council on the its implementation