IFC

The groundbreaking project, launched this month, aims to build evidence demonstrating the benefits to business of providing coordinated and comprehensive responses for employees affected by family and sexual violence.

The report notes that Asia-Pacific, which will house half the world’s urban population by 2030, is a particularly promising area for investment, with an estimated $17.8 trillion worth of investment opportunities, primarily in residential buildings.

The workshop is part of an effort by the IFC and the PNG Government to develop and foster sustainable growth of the country’s SME sector.

International experts will share with SME’s and stakeholders their experiences in assisting SME communities and examples that the Government can explore more and adopt to boost SME growth.

The IFC is a member of the World Bank Group and is the largest global development institution focused on the private sector in emerging markets.

The workshop, to be held next month, will focus on some of the recently released work programs for the SME sector undertaken by Department of Trade, Commerce and Industry, SME Corporation and other key stakeholders.

Presentations will be made by the World Bank group on international best practices and examples in SME development.

The workshop will provide invaluable information for developing appropriate government interventions and policies to foster the growth of SMEs in PNG.

Accompanied by WNB Governor Sasindran Muthuvel and Central Bank Governor Loi Bakani to various projects in the province, the delegation were impressed with the progress of the projects in the province.

The delegations comprising of two representatives each from IFC, World Bank and the Asian Development Bank visited the Hoskins Airport, 66kv power line project from Bialla to Kimbe, 12 bridges along the New Britain Highway, the bio gas plant generating 3megawatts power at Mosa and the Kumbango and oil mill operations.

The study, commissioned by the Australian Government, World Bank Group member IFC and the region’s leading cruise operator Carnival Australia, looked at PNG’s five main ports and identified a number of opportunities and investments to develop cruise tourism and capitalise further on the growing sector.

The study said cruise tourism brought $5.9 million Australian dollars (K14.4 million) into Papua New Guinea’s economy last year, with an estimated $0.2 million dollars (K0.48 million) in indirect economic benefits, according to a new study.