Asian Development Bank

ADB confident in PNG Govt

In a brief interview with Loop PNG, ADB PNG Country Manager, Marcelo Minc, says the recent signing of the K364.83m loan showed their faith in the Government to deliver.

He said ADB does not provide loans without guarantees.

“We will not give funds if the state of implementation is not satisfactory,” says Minc.

The recent loan signing is part of the multi-tranche financing facility road program worth US$400m (K1,196.17m) and was approved in 2008 for the Highlands Road Rehabilitation and Improvement Investment Program (HRRIIP)

PNG businesses missing out says Juffa

He made this comments following media reports that Treasury Minister Patrick Pruaitch will get a $US 300 million (K928 million) loan from ADB to support the National Budget.      

“My concern is this, the ADB in Papua New Guinea appears to ignore the facts, there are Papua New Guinea firms that can deliver the projects,” Governor Juffa told Loop PNG.

He said it does not make sense when the National Government gets the loan but ADB continue to influence the awarding of contracts to projects in the country especially to foreign firms.   

ADB boosting access to clean, renewable energy in Pacific - report

“ADB is the largest investor in renewable energy in the Pacific, which is still heavily reliant on diesel for power generation,” said Michael Trainor, Energy Specialist in ADB’s Pacific Department. “We are working with governments and communities to improve the quantity and quality of energy services across the region by ramping up support for the transition to renewable energy.”

PMCCI and ADB to launch multi-donor trust fund

The launch of the ADB’s Asia Pacific Project Preparation Facility (AP3F) managed by the Asian Development Bank to prepare, structure and place bankable public–private partnership (PPP) projects in the market.  

AP3F’s primary objective is to accelerate infrastructure development by providing  project preparation support to governments, including due diligence and advisory work.  

The facility can also provide capacity and policy development support, as well as monitoring and restructuring work for existing projects.

ADB approves $2m grant for Tuvalu reforms

The country relies on unpredictable and volatile revenue sources, such as fishing fees, licensing fees for its ".tv" internet domain, and development assistance, making fiscal sustainability a challenge.

The bank's director for the Pacific Subregional Office, Robert Jauncey, says the policy reform programme hopes to promote public procurement policies and regulations to address these challenges.

The government hopes to support public enterprise reforms and maximise government efficiency and transparency.

ADB pushes open skies

He made the comment during a recent visit to Fiji and cited key priorities Pacific Opportunities: Leveraging Asia's Growth that would strengthen Pacific Island countries' links with Asian countries.

On shipping, Takehiko said, initial experience in Vanuatu and Solomon Islands suggested that subsidising the private sector on a competitive basis to undertake shipping routes to remote communities could be a better approach than through inefficient state-owned enterprises.

PNG Loop's Breakfast Bites

Reaching the ultimate peak in tourism accommodation

http://www.looppng.com/content/reaching-ultimate-peak-tourism-accommodation

MOUNT WILHELM – Papua New Guinea’s highest peak – lies 4,509 metres above sea level and it is the point where three provinces, Simbu, Western Highlands and Madang literally meet in the skies above.

Symposium aims for health laws – Sirigoi

ADB President pledges expanded support for Fiji and Pacific Islands

On his first official visit to Fiji,  Nakao also called on Attorney General and Finance Minister Aiyaz Sayed-Khaiyum and Foreign Affairs Minister Ratu Inoke Kubuabola. Discussions focused on ways ADB can further enhance its support for Fiji to meet its development priorities.    

Nakao’s programme also included a visit to the ADB-supported Kinoya wastewater treatment plant near Suva and an official address at the University of the South Pacific (USP), where he discussed potential opportunities and policy priorities for Pacific island countries.

ADB stands ready to support Pacific Regionalism key priorities

President Nakao made the statement Friday in his public lecture at the University of the South Pacific on “Pacific Islands: Development Opportunities and policies priorities.

“ADB recognises the diversity of the Pacific. The region has over 800 languages. Pacific Island economies are very different. But a regional approach to common challenges can benefit all.

“Pacific Island leaders will be discussing a new framework for Pacific regionalism at the Forum Leaders meeting in Port Moresby in early September. ADB stands ready to support their key priorities,” he stressed.

Pacific region buffered from falling Chinese markets

Emma Veve of the Asian Development Bank (ADB) says commodity exporters like Papua New Guinea will feel the effects of lower prices for their products and preparations must be made for this.

Veve says there will be a slow down in the number of outbound tourists from China but the market is so huge countries dependent on the China trade like Fiji and Palau will barely feel the shock.

She says the devaluation of the yuan eases the way for countries heavily reliant on imported fuel and concessionary Chinese loans.