Asian Development Bank (ADB)

PPL, ADB work on K2.1bn facility

The financing will underpin network investment and hydro power upgrades.

PPL Acting Managing Director, Carolyn Blacklock, announced this during the PNG Investment Conference in Brisbane recently.

During her presentation, Blacklock announced the current plans with the ADB.

Blacklock said PPL has bold and aggressive plans that are focused on two areas:

  1. Reduce tariff to around half of current levels, in the next 5 to 10 years;
  2. Increase electrification to around 70 percent of population.

To achieve this, a new business model is needed.

New ADB Director General for Pacific assumes office

Locsin, who has assumed office, is the first woman to head ADB’s department which covers the Pacific region.

Locsin will lead implementation of the Pacific Approach 2016–2020 which serves as ADB’s overall country partnership strategy for the Cook Islands, Kiribati, the Republic of the Marshall Islands, the Federated States of Micronesia, Nauru, Palau, Samoa, the Solomon Islands, Tonga, Tuvalu, and Vanuatu. ADB has individual partnership strategies for the three larger Pacific developing member countries – Fiji, Papua New Guinea, and Timor-Leste.

MoU to improve business environment

 

The MoU will involve technical assistance under the Pacific Private Sector Development Initiative (PSDI) to improve the IPA’s business registry’s services.

The assistance is expected to improve reliability and accessibility by enabling businesses to enter the formal economy as well as improving transparency of business information.

The MoU was signed by IPA Board Chairman, Leon Buskens, Acting Managing Director, Clarence Hoot, and ADB Regional Director of Pacific Liason and Coordination Office, Emma Fan.

PNG urged to quickly access climate fund

GCF is the financial mechanism for the United Nations Framework Convention on Climate Change (UNFCCC), aimed to fund programs towards low carbon emissions.

Its objective is to combat global climate change on both the adaptation and mitigation fronts.

Asian Development Bank (ADB) Pacific department senior natural resource management specialist, Jay Roop, says ADB has identified a small number of projects in PNG. 

ADB is among 10 GCF accredited entities working in PNG and the Pacific region, assisting to submit project and program proposals for climate funding.

ABD and NAC agree to airport upgrade

 

The “transaction advisory services agreement” was signed last Thursday and will see the development of the new airport feature through a public-private partnership (PPP).

Marcelo Minc, ADB Country Director for PNG says “ADB has been a key development partner to NAC for several years through the landmark Civil Aviation Development Investment Program.”

WNB homes to enjoy electricity

WNB Governor Sasindran Muthuvel told Loop PNG that preparations are on the way to implement this massive project.

Muthuvel thanked the Asian Development Bank (ADB) for coordinating $ US 5 million (K16.23 million) for the project.

The project will be funded by the New Zealand and Japan governments.

Muthuvel said the houses will be connected with power with easypay meters.

He added that the mini-hydro  scheme at Lobo will also be upgraded to 1.5megawatts.