K621mil loan sought for B’ville

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By MIRIAM ZARRIGA
PRIME Minister James Marape says the Government is seeking a sovereign guarantee for a loan to pay K621 million it owes the Autonomous Bougainville Government.
He revealed this during the Joint Consultative Body (JCB) meeting on Friday in Arawa, Bougainville.
“I have tasked Treasury to work with their counterparts in Bougainville to find mechanisms that is good for both sides,” Marape said.
“This K621 million is different from the K100 million the Government (agreed to) in 2019. The K621 million is owed in restoration development grants over 18 years.”
He said the ABG had been “patient and we will look at ways we can ensure that it is paid”.
The Government had committed to giving a separate K100 million every year to Bougainville as special infrastructure funds.
“We will deliver (K100 million annually) from 2020 to 2030,” he said.
The JCB affirmed “without any shadow of doubt, that the K621 million – confirmed by an independent United Nations’ assessment – is the amount owed by the PNG Government to Bougainville in as far as the 2001 Peace Agreement is concerned”.
The people of Bougainville agreed in a referendum last year to become independent.
Marape said last year the Government was working on giving greater autonomy to other provinces while still keeping PNG united.

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