Treasurer, World Bank hold talks

TREASURER Ian Ling-Stuckey met with World Bank vice-president Victoria Kwakwa in May to discuss developments and objectives around
the bank’s support to Papua New Guinea.
As part of the discussions, Ling-Stuckey outlined the need for long term engagement between the World Bank and Papua New Guinea and the importance of providing support directly to the national budget, alongside the need to support key growth sectors outlined by the Marape Government.
“The World Bank has been a key and strategic partner for many years and will be providing direct support towards implementing our budget this year,” he said.
“We are happy for the range of infrastructure, agriculture, health and education projects we are managing to get underway with the Bank and look forward to expanding this over time.”
Ling-Stuckey also discussed with the World Bank’s sister organisation, the International Finance Corporation (IFC), plans to provide a commercial project, constructing affordable and market rate housing in the National Capital District.
The project aims to provide between 1,500 and 2,000 dwellings, with 75 per cent of them provided on an affordable basis to Papua New Guineans.
Ling-Stuckey committed, during the discussions, to supporting the IFC’s efforts to find available land and alongside National Capital District Governor Powes Parkop, yesterday inspected some potential options for State land that could be made available for the project.
“I am very happy to be able to have made some substantial progress towards realising this initiative today,” he said.
“The provision of affordable housing is an important part of the Government’s plan, giving people ownership of assets, land and housing.”