Union Bank of Switzerland (UBS) Loan

PM Assures Tabling of COI Report

And that criminal actions, if necessary, will be taken against those responsible for the controversial UBS loan which has cost Papua New Guinea over US$300 million (K1 billion). 
 
The UBS COI was established by PM Marape in 2019 to probe into the A$1.2 billion (K3.12 billion) loan from UBS in 2014. 
 
Prime Minister Marape said executive governments, and prime ministers, “must be aware that all executive government transactions and decisions must not be hidden from scrutiny if required by people”.