UAE likely to fund projects

THE United Arab Emirates (UAE) will potentially fund over K1 billion of projects in the country for the mitigation of climate change and other areas, Forestry Minister Walter Schnaubelt says.
On his arrival from Dubai on Friday from the World Exposition, Schnaubelt said the projects were yet to be identified but included reforestation, joint university efforts, rural electrification and others.
Schnaubelt said the UAE was now shifting its attention to the Pacific, specifically Papua New Guinea (PNG) to establish strong bilateral relations.
“This is encouraging in a sense that they are willing to be here long term,” the Namatanai MP said.
“So we’ve opened up that bilateral discussion and the major takeaway is not just the long term relationship that they want to embark on but specifically the scientific biodiversity areas that we in forestry need support in as well.
“As we all know, most of the data on specifics of our forest are actually loaded onto a server, but it is actually not in country, it is outside of PNG.
“We are trying now to look at ways to have a server within forestry so all the data that we collect through our scientific exercise, we are able to download it and keep it here on shore.
“On a scientific side, they are looking at a joint effort with their university and us as well to see what role they can play in that relationship and we are open to suggestions going forward as that’s going to be in the best interest of progressing the Forest Authority in Papua New Guinea.
“There is also interest in funding 800,000 hectares of reforestation which is not a small piece of land and the seedlings and the trees that are required to be planted over that time and the exercise requirement is going to be expensive.
“There is also a possibility of carbon trade offsets.”
Schnaubelt said there was also potential for US$100 million (about K351 million) for rural electrification projects to cover 78 per cent of the population.
He said PNG would be required to join the International Renewable Energy Agency (Irena) in order for the funding to come through.
He said an application had already being filled for the National Executive Council (NEC) and Parliament to endorse.