US$3bn loan sought by Papua New Guinea government to upgrade key road

The Papua New Guinea government is looking to borrow US$ 3billion to upgrade the country’s vital Highlands Highway. Francies Awesa, the works minister, will go to China to negotiate a loan for the project. The Highlands Highway serves three million people living in highland provinces, and upgrading the road is seen as an important priority for the government’s economic policies.
May 24, 2012 Read time: 1 min
The Papua New Guinea government is looking to borrow US$ 3billion to upgrade the country’s vital Highlands Highway.

Francies Awesa, the works minister, will go to China to negotiate a loan for the project. The Highlands Highway serves three million people living in highland provinces, and upgrading the road is seen as an important priority for the government’s economic policies.

Related Content

  • Liberia considers more World Bank funding amid caution
    August 15, 2018
    Liberia is considering a World Bank offer of a US$500 million loan for more road projects, according media reports. Information Minister Eugene Nagbe said the government is also talking to the International Monetary Fund (IMF) and the African Development Bank as part of plans to use the loan for highway construction. Nagbe reportedly said, however, that representatives of the US, China and other development partners have cautioned the government over increased borrowing for major projects. Building and
    Read More
  • Thirst for Infrastructure: The Belt & Road Initiative
    November 8, 2017
    Susanna Zammataro, IRF Geneva, writes: The China Highway and Transportation Society (CHTS) – an esteemed member of IRF – will be hosting a special Session on the Belt and Road Initiative during the IRF World Meeting in Delhi, 14th-17th November 2017. Last May, president Xi Jinping welcomed 28 heads of state and government to Beijing to celebrate the “Belt and Road” initiative, an ambitious plan in terms of infrastructure development, but also in terms of foreign policy. Launched in 2013 as “One belt, On
    Read More
  • China's Roads Convention focuses on sustainability
    February 9, 2012
    IRF joins with key Chinese transport authorities to lead the way in efforts to make sustainable rural mobility, transport and access a reality for millions throughout the world.
    Read More
  • Alberta halts PPP contract use after a major projects review
    May 9, 2016
    The Canadian province of Alberta has put a halt to further public-private partnership projects pending a provincial government cabinet decision on their use. Alberta infrastructure minister Brian Mason said the New Democratic Party government isn’t declaring a moratorium on P3s. However, he said that he plans to stick to the traditional methods of funding as he launches a five-year US$27 billion capital construction programme. The Calgary Sun newspaper quoted Mason saying “there are real questions abo
    Read More

Highlighted Content