The World Bank announced new program and generous funding for Papua New Guinea agriculture sector, call centre launched for the 2022 elections and the Civil Aviation Development Investment Program eyes phase 2. The business news you need today.
World Bank
The World Bank has released its economic update on Papua New Guinea, superannuation funds reject bank levy, and SNT Chair says Porgera will reopen next month. The business news you need today.
Papua New Guinea’s fertile Markham and Ramu valleys have the potential to become a food basket for the Asia-Pacific region. An International Finance Corporation (IFC) study highlights how this could be achieved.
Papua New Guinea’s economic performance is projected to remain subdued for the rest of 2021 but rebound in 2022, according to the World Bank’s latest East Asia and Pacific Economic Update.
Markus Scheuermaier is the International Finance Corporation’s (IFC) new Resident Representative in Papua New Guinea. He shares his thoughts on how the IFC can make the most difference in PNG with Business Advantage PNG.
The World Bank has approved US$100 million (K352 million) in concessional funding to support Papua New Guinea in its response to COVID-19, and ‘lay important foundations for a sustainable recovery’. The funding will not be without risk, however.
Papua New Guinea has been dealing with a ’triple crisis’, according to Ilyas Sarsenov, Country Economist for the World Bank in PNG. Speaking at a Business Advantage PNG online briefing, he said that the economy has fallen well below previous growth forecasts.
A new World Bank report on the economic and employment impact of COVID-19 on Pacific Island Countries has shown that the harm to Papua New Guinea’s economy, labour market and education has been extensive.
COVID-19, Porgera and politics may have monopolised the attention of the media, but 2020 brought many other challenges, unexpected changes and triumphs for business. Here’s how Business Advantage PNG reported on this extraordinary year.
The suspension of Parliament means that Papua New Guinea’s 2021 National Budget will be delayed until at least next month and possibly longer. Whenever it is finally delivered – and whoever delivers it – the recently released Budget Strategy Paper clearly outlines the challenges it must address.