K318m more for NCD roads

 CHINA will give Papua New Guinea a K318 million concessional loan to fund road works in the National Capital District.

The agreement was signed in Port Moresby last week by Treasurer Don Polye and Chinese Ambassador, Qiu Bohua.

“I’m so grateful that at this time when we need to develop infrastructure for economic growth, the Exim Bank of China, through the People’s Republic of China, have come in to assist us develop our infrastructure, especially the Gerehu Stage Nine all the way to Tatana,” Polye said.

“That’s going to be a very important development because it’s going to open up and grow the city, grow the country.”

Bohua said the loan augured well for China-PNG relations.

“It really is a pleasure and honour for me to sign this historic document,” he said.

“We understand that this is an important document for our bilateral cooperation.

“PNG will host many important events: Next year the Pacific Games, 2018 the APEC meeting.

“I’m sure this will play an important role in developing the capital and improving the infrastructure here.”