Monday 29 January 2024
Prime Minister Hon. James Marape with Officials from the World Bank, during their briefing today. (photo credit: PM’s Media).
Prime Minister Hon. James Marape, today received detailed briefing from the World Bank on the status of its ongoing projects within Papua New Guinea.
The meeting featured insights from World Bank Country Manager, Mr. Khwima Nthara, Senior Operations Officer Ms. Jane Sprouster, and Country Economist Mr. Ruslan Piontkivsk
An array of topics was covered during the briefing, including an update on the current World Bank-funded initiatives in the nation, which as of today amount to US$502.55 million (K1.73 billion).
These projects span across various sectors, reflecting a commitment to diversified development:
• Enhancing Labor Mobility from PNG – US$32 million
• Urban Youth Employment Project – US$35 million
• PNG Agriculture Commercialisation and Diversification Project – US$40 million
• Resilient Transport Project – US$107.55 million
• Energy Utility Performance and Reliability Improvement Project – US$30 million
• Water Supply and Sanitation Development Project – US$70 million
• Rural Service Delivery Project – US$23 million
• Improving Access to and Value from Health Services – US$30 million
• Emergency COVID-19 Project – US$30 million
• Emergency TB Project – US$15 million
• Child Nutrition and Social Protection Project – US$90 million In addition to these operational projects,
Prime Minister Marape was briefed on prospective World Bank financing packages, which include:
- National Energy Access Transformation (NEAT) Project – US$200 million
• Budget Support (Development Policy Operation) – US$100 million
• Sustainable Development Finance Policy – Performance and Policy Actions – US$20 million
Furthermore, the World Bank put forward the proposition of a growth seminar titled ‘Towards Creating a K200 Billion Economy’, scheduled for April this year. This initiative aligns with the nation’s economic aspirations and is expected to foster substantial discourse on sustainable growth.
Prime Minister Marape expressed his appreciation for the comprehensive update, showing particular interest in the energy sector projects, in line with Papua New Guinea’s ongoing transition towards a green economy. He requested detailed reports on each project to ensure their effective progression.
Reiterating his support for the developmental agenda, Prime Minister Marape also extended his endorsement for the upcoming growth seminar, recognising its potential to catalyse economic expansion and prosperity in Papua New Guinea.