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May 28, 2022
Featured Highlands News

Government Signs Tranche 3 Loan Deal with ADB for Highlands Roads

Tranche 3 of the major road projects in the Highlands region will soon commence.

This follows the signing of a loan between the Government, Asian Development Bank and European Union in Port Moresby recently.

The loan stands at around K380 million with a co- financing arrangement administered by ADB.

The deal will see four major economic road projects in the Highlands region sealed and maintained.

On behalf of the Government Treasurer, Patrick Pruaitch, sealed the deal from an ongoing K800 million loan sourced from the Asian Development Bank.

Minister Pruaitch says, despite the downturn in the economy, ADB and the European Union are giving enough space through loans to develop critical road networks in the country.

The loan falls under the National Transport Strategy 2011- 2013 as a national priority program for the transport sector. Department of works will be managing the road works.

The Tranche 3 road development includes, Nipa Munhiu, extension of Kundiawa- Gembogl, Henganofi Project and the Whil-Loop road.

Tranche 1 and 2 projects include the Mendi-Kandep, Laiagam- Porgera, Kotna –Lapram, Ialibu -Kagua on-going Mendi Tambul roads.

Tranche 1, 2 and 3 were approved by the Government in 2008 through a multi-tranche loan facility with ADB.

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