Indian Exim Bank loan

Indian Exim Bank loan still in discussions

Treasurer, Patrick Pruaitch, says negotiations are ongoing as there are arrangements which need to be adhered too before an agreement is made.

Pruatich said this in response to West New Britain Governor, Sasindran Muthuvel,, in Parliament today when queried on the $US100 million commitment made by the Indian President, Shri Pranab Mukherjee, when visiting PNG last year.

Muthuvel said part of the loan is earmarked for his Province and wanted to know what the delay was in facilitating the loan which has a very low interest rate compared to other institutions.