Minister for State Enterprises, William Duma, opened a new Joint Implementation Unit (JIU) between the Australian Infrastructure Financing Facility for the Pacific (AIFFP) and PNG Ports Corporation.
The Minister expressed his confidence, stating that the JIU would set an example for other investments in Papua New Guinea.
“I want the rest of the country to see this as a model and use this as a template when using funds from our friends in other countries,” Duma said.
According to the Australian High Commission statement, the new facility will leverage bilateral aid, and, deliver expertise to support the implementation of maritime investments across key national ports including, Kimbe, Oro Bay, Daru, Lae Tidal Basin, and Kavieng.
It will also improve connectivity and supply chain efficiency, that will enable economic and social development for rural communities in PNG.
Australia’s investment in PNG’s port infrastructure upgrades through the JIU will cost an estimated of K966 million.
Australian High Commissioner to Papua New Guinea, John Feakes said the JIU represents a major advancement in improving the quality and efficiency of AIFFP-funded port infrastructure projects.
“I hope that through the JIU and through similar approaches in PNG we can start to deliver transformational infrastructure across ports but also through energy and telecommunications,” Feakes said.
First Assistant Secretary DFAT and Head of AIFFP, Jonathan Kenna said this investment is financed by a mixture of both grant debt financing.
“This approach is reflective of the broader partnership approach that Australia and PNG to take across a wide spectrum of engagement that is timely, cost effective, climate resilient and that has to encourage the participation of local communities and deliver to their needs”, Kenna said.
