PM response on tri-lateral fund

Prime Minister, Peter O’Neill, says PNG has no competing interest in any on-going geo-political tussles in the region and will continue to conduct business with economies to get the best deal for PNG.

He said this in light of the recent announcement of a tri-lateral fund from the United States, Australia, and Japan, to counter the presence of China in the Pacific.

O’Neill said it was healthy there was competing sources of financing for the PNG.

“We need to have access to cheaper funds, and what it means is that the competition between China and Australia and the United States on the availability of funds to the Pacific and economy’s like Papua New Guinea at much lower rates is in the best interest of our country.

“We welcome the initiatives and we conduct our business with anyone of them. We have no competing interest on any geo-politics political issues. all we want to do is improve the standard of living for our people,” said O’Neill.

Cedric Patjole