Over K2.6 billion of European Union funds have been injected in different avenues of the country.
This started since the development of a partnership by PNG and the EU in what was known as the European Economic Commission in 1977.
On Wednesday, the European Union in Papua New Guinea marked the 40th year in which this partnership has developed and grown stronger since its initiation.
Prime Minister Peter O’Neill, in a statement delivered by Minister for Planning Richard Maru on his behalf, stated that when the partnership had first started, it had focused on aid and rural development mostly.
“Today this partnership now looks at different avenues, including cooperation on trade, gender and or migration matters.”
The statement further reiterated that initial funding under the first Lome Convention was worth K10 million, however, this has now grown to K600 million in indicative programs funding under the 11th EDF.
The ambassador for European Union, Ioannis Giogkarakis-Argyropoulos, said the 40th anniversary strengthens the continuous partnership that focuses on the country’s development and economic growth.
He said there are plans to further strengthen this relationship.
He reiterated on the first ever new national trade policy and the need for a National Trade office for PNG.
Minister Maru stated that the need for the EU to continue partnering with PNG is important as it looks at most of Papua New Guinea’s main assets, including agriculture.
He stressed that this partnership has also proven to be an asset to the growth and development of PNG and should be continued.