ADB

ADB’s Pacific Department biannual economic report; the Pacific Economic Monitor indicated that without further fiscal consolidation, PNG is likely to miss its fiscal targets.

ADB country director Marcelo Minc said the budget formulation needs to become more focused on delivering services.

He said improving infrastructure and enabling private sector participation remains central to achieving broad based, inclusive and sustainable economic growth.

“For instance increasing export competitiveness in the fisheries sector could help expand jobs.”

The three day training will look at providing a comprehensive understanding of the Smart Campaign to participants to conduct client protection self assessment for their microfinance institutions and identify vulnerabilities and strengths and to prioritize areas to strengthen client protection.

The training will also partially focus on understanding rules and regulations applicable to Papua New Guinea microfinance markets, as applied by regulators in PNG.

But the report by the Asian Development Bank also shows the region is not doing enough to capitalise on the rapid expansion of its Asian neighbours.

Emma Veve is the Director of the ADB's Pacific Department and she says Pacific countries must do more to encourage innovation and generate wealth.

“ADB’s energy operations in the Pacific aim to boost energy security, support low-carbon growth and help expand access to modern energy services,” said Michael Trainor, Energy Specialist in ADB’s Pacific Department.

“Our energy policy rests on promoting energy efficiency, renewable energy, capacity building, and energy sector reform.”

The world’s six large multilateral development banks (MDBs) delivered over $28 billion in financing last year to help developing countries and emerging economies mitigate and adapt to the challenges of climate change. The latest figures bring total collective commitments of the past four years to more than $100 billion.   
 
In 2014, the six banks together provided over $23 billion dedicated to mitigation efforts and $5 billion for adaptation work, according to the fourth joint report on MDB Climate Finance.