By Stanley Ove Jr – EMTV News, Port Moresby
Prime Minister Peter O’Neill has thanked the Asian Development Bank (ADB) for its continued support in improving infrastructure and service delivery in the country.
Mr O’Neill said this while announcing the K3Billion ADB funded reconstruction of the Highlands Highway which is set to commence in the coming weeks. The PM also brushed aside critics of the Government’s borrowing and said no developed country can survive on its own. He added that PNG has a good relationship with its donor partners which make it easy for the Government to repay its loans.
“No country can survive on its own. Our donor partners have been good to us; they are giving us flexible interest rates in repaying our loans. Some have given us 20 to 30 years with interest rates of 1 to 3%,” Mr O’Neill said.
The major reconstruction will start at Kagamuga in Mt Hagen and end at Nadzab in Lae. So far K300 million from has been used to kick start work in Mt Hagen. The Simbu section of the highway will be given prominence given its water logged areas.
“We are investing in building infrastructure around the country, something past Governments have failed to do when the country had all the money to do so,” the Prime Minister said.
The Ramu to Madang Highway will also receive similar works, but will come under the assistance of the World Bank.