Japan approves K1.2bil loan for PNG projects

Business

A TOTAL of K1.2 billion worth of concessional loans from Japan has been committed to Papua New Guinea for several infrastructure projects.
Japanese Embassy acting deputy chief-of-mission Shinichi Maruo said that this
was one part of a three-pronged approach in its support for
PNG.
“Japans Official Development Assistance comes in the forms of concessional loans, grant aid and technical cooperation,” he said. “Ongoing large scale infrastructure loan programmes in PNG include Port Moresby Sewerage System Upgrading project, Ramu Transmission System Reinforcement and Nadzab Airport redevelopment with the total amount which sums up to K1.2 billion.
“The Sewerage treatment plant in Port Moresby South has started taking in sewage waters for a test run and will
be competed before the Apec Leaders’ Summit in November this year.
“It is expected that the construction of two bridges on the East-West Highway in New Britain with a grant of K90 million and rehabilitation of the Alotau market and fisheries facilities with K33 million under the grant assistance will be completed next year.”
Maruo said Japan also donated 46 buses and 22 ambulances to the PNG Apec Authority last year. “Japan also puts emphasis on transferring skills and technologies to PNG
under various technical cooperation programmes in the areas of infrastructure development, IT, education, health, and commerce among others,” he said.
“ For supporting PNG Apec alone , 51 PNG government officials were invited to Japan for training from 2016 to 2017.”

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