Czechoslovakian EXIM Bank

PNG moving away from tied loans

He said the Government has learnt from experience and is now negotiating loans which have better terms for the country.

He said this following the signing of a concessional loan with the Czechoslovakian EXIM Bank for K172 million (Euro 55 million) for the Boram Hospital Upgrade Project.

Abel said given the experience of the China EXIM Bank loan, which had tied conditions, the PNC-led coalition is now working to move away from such arrangements.