Millennium Challenge Corporation (MCC)

Gov’t seeks to shift away from loans

Treasurer Ian Ling-Stuckey when meeting with the head of the MCC, Alison Allbright, during his recent visit to Washington said this is all part of the government’s Targeted Grants Strategy (TGS), where they are seeking to move from loans to more and more grants to support PNG’s economic reform program.

“The MCC pre-qualification process is a demanding one. Currently, PNG is a long way from qualifying.  It will take several years to improve on enough indicators to get access to the potentially large grants available.