US$100mil projects set by Bank

THE World Bank yesterday approved three new projects totalling more than US$100 million (K337million) for Papua New Guinea aimed at addressing some of the most pressing human capital needs.
On the back of the bank’s recently-announced US$20 million (K67mil) Covid-19 emergency response package for PNG, the three new projects ware expected to deliver critical improvements in some most urgent needs: health services – particularly in rural areas – as well as agriculture, nutrition and youth employment. Prime Minister James Marape said: “This is a milestone day for our partnership with the World Bank in Papua New Guinea.
“Each of these three projects aims to address some of the country’s most critical development challenges.
“Each of these projects approved (yesterday) are significant commitments from the World Bank to the future of Papua New Guineans.
Stefano Mocci, the country manager for World Bank in PNG, said: “At the heart of these three new projects is our commitment to support PNG to build a healthier and more prosperous population,”
“We look forward to continuing to ensure more Papua New Guineans, no matter their current circumstances, can achieve their full potential.”
The first project is the US$30mil (K103mil) impact Health project, which is to strengthen the quality of health services, particularly in rural areas.
This new project aims to address critical bottlenecks in the PNG Health sector to improve the delivery of services on the ground, ensuring medicine, equipment and expertise are reaching the ‘frontlines’ of health in rural areas.
Next is the five-year, US$40 mi (K137mil) agriculture commercialisation and diversification project aimed at supporting the growth and diversification of the agricultural sector, particularly in rural areas.
Third is the US$35mil (K120mil) second phase of the urban PNG national youth workforce scheme.
It is aimed to support 6,700 young people in Port Moresby and Lae with employment opportunities and on-the-job training, with the potential to include additional locations.
The World Bank works in partnership with 12 countries across the Pacific, supporting 84 projects totalling US$1.79bil (K5.84bil) in commitments in sectors including agriculture, aviation and transport, climate resilience and adaptation, economic policy, education and employment, energy, fisheries, health, macroeconomic management, rural development, telecommunications and tourism.