World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 

ADB Vice-President to visit Papua New Guinea

ADB Vice-President to visit Papua New Guinea

Port Moresby, Papua New Guinea, 7 February 2013 – Asian Development Bank (ADB) Vice-President Stephen Groff will arrive in Papua New Guinea (PNG) next week to visit project sites and discuss ADB’s assistance program with top government officials.

Mr. Groff, who is responsible for ADB’s operations in East Asia, Southeast Asia, and the Pacific, will meet with Prime Minister Peter O’Neill, Treasurer and ADB Governor Don Polye, and other senior government officials and development partners. They will discuss ADB’s work in infrastructure improvement, private sector development, economic management, and regional cooperation, as well as opportunities to further strengthen ADB’s Country Partnership Strategy with PNG.

ADB’s current assistance program in PNG is focused on transport infrastructure in the highlands region road network, national ports, maritime safety, and civil aviation. By improving customs and quarantine facilities along PNG’s border with Indonesia ADB is promoting regional cooperation and integration, while building more climate resilient roads is helping PNG to adapt to the impacts of climate change. Together with the Government of Australia and other partners, ADB is helping PNG improve the quality and coverage of its health services, and boosting access to financial services in remote and rural areas through its Microfinance Expansion Project.

Since joining ADB in 1971, PNG has received 75 loans worth $1.5 billion, 148 Technical Assistance (TA) projects worth $62.8 million, as well as one Asian Development Fund (ADF) grant worth $15 million.

At present, 19 sovereign loans ($661.7 million), two private sector projects ($58 million), one ADF grant ($15 million), and 11 TA projects ($9.6 million) are active. In addition, PNG’s active portfolio includes $78.7 million in cofinancing from other development partners.

ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members – 48 from the region.

ENDS

© Scoop Media

 
 
 
 
 
World Headlines

 

Werewolf: Gordon Campbell On North Korea, Neo-Nazism, And Milo

With a bit of luck the planet won’t be devastated by nuclear war in the next few days. US President Donald Trump will have begun to fixate on some other way to gratify his self-esteem – maybe by invading Venezuela or starting a war with Iran. More>>

Victory Declared: New Stabilisation Funding From NZ As Mosul Is Retaken

New Zealand has congratulated the Iraqi government on the successful liberation of Mosul from ISIS after a long and hard-fought campaign. More>>

Gordon Campbell: On The Current US Moves Against North Korea

If Martians visited early last week, they’d probably be scratching their heads as to why North Korea was being treated as a potential trigger for global conflict... More>>

ALSO:

Gordon Campbell: On The Lessons From Corbyn’s Campaign

Leaving partisan politics aside – and ignoring Jeremy Corbyn’s sensational election campaign for a moment – it has to be said that Britain is now really up shit creek... More>>

ALSO:

Another US Court: Fourth Circuit Rules Muslim Ban Discriminatory

ACLU: Step by step, point by point, the court laid out what has been clear from the start: The president promised to ban Muslims from the United States, and his executive orders are an attempt to do just that. More>>

ALSO: