PNG increasing aid and investment role in region

By MATTHEW VARI

Sunday, April 10, 2016 (Sunday Chronicle, PNG)

PAPUA New Guinea continues to increase its development, rehabilitation, and investment role in the Pacific Region.

In a ministerial statement made by Minister for Foreign Affairs and Immigration Rimbink Pato- he said the country has continued its financial support to all regional forums, made financial aid donations to pacific nations, and also was ready to assist during natural disasters in the region.

He said as the country is still the chair of the Pacific Islands Forum for an additional six months, the country would ensure the forum’s agenda for development is actively progressed.

“In line with our government’s commitment to regional cooperation we have made sure that our assistance contributions to the Pacific Island Forum, the Melanesian Spearhead Group, and other regional organizations are all paid so these organization can work together effectively whilst PNG is chair of the PIF,” Minister Pato said.

“The government has also made modest contributions to several island countries to assist them in meeting development challenges they face at this time.”

“At this time K5 million to Niue for the construction of their new parliament house, K1.5 million to Tuvalu to co-fund the construction of a parliament house and court house, K10 million to Vanuatu to rehabilitation of Kumul Highway in Port villa, K350,000 to Palau for development of a new marine sanctuary.”

“We have expressed our sympathy to the government and republic of Fiji during the devastation of Cyclone Winston and offered K5.5 million to support rehabilitation work in the Fiji, with similar commitment to Vanuatu in 2015.”

Prime Minister Peter O’Neill, in congratulating his minister, also commended the increasing role the country was making in business investment in the smaller pacific states.

“Papua New Guinea continues to extend its regional assistance to many countries in the region. Even though we have our own problems but their problems are even bigger. Even for smaller countries the small assistance we give them goes a long way.”

“Over the past four years we have seen an increased number of Papua New Guinean investments in those countries. Institutions like Bank of South pacific, our own bank, having branches in these countries where when you go you will see the colour green flooding the streets of those countries,” the PM said.

“We are expending in other sectors such as insurance, the tourism industry- and our landowners, superannuation funds are investing heavily in the region in large sums of money to those small economies and becoming huge investors.”

O’Neill added that the country’s place in the region is well respected by the leaders and communities in the region to continue to play a leading role.