By MATTHEW VARI
Sunday, May 1, 2016 (Sunday Chronicle, PNG)
THE Governments of India and Papua New Guinea have signed four financial and technical Memorandums of Understandings (MoUs) this week during the State Visit of Indian President Shri Pranab Mukherjee.
Witnessed by President Mukherjee and Prime Minister Peter O’Neill the MoUs included a US$100 million (K300 million) Line of Credit Loan with Indian Export Import Bank and the PNG government to fund major infrastructure projects in three provinces in the country.
The funds will fund three infrastructure projects in Papua New Guinea starting with the refurbishment of the National and Supreme Courts in Mt Hagen US$20 million (K60 million), Madang to Baiyer road US$60 million (K180 million), and the upgrading Kimbe to Hoskins Highway into a four lane road worth US$20 million (60 million).
General Manager of Export Import Bank of India Utpal Gokhale signed the MoU, with Deputy Secretary Economic Policy Treasury Department who signed on behalf of Secretary Dairi Vele.
Another MoUs included a cooperation MoU in the Field of Healthcare and Medical Science signed between Ministry of Health Minister Michael Malabag and Dr Sanjeev Kumar Balyan, Minister for State in Agriculture and Farmers Welfare.
Indian Council of Agricultural Research and the PNG University of Technology also signed an MoU which was followed by the signing of the establishment of the India Papua New Guinea Center for Excellence in IT signed by the Acting Secretary for Forieng Affairs William Dihm and the Indian High Commissioner to Papua New Guinea.
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