ADVERTISEMENT
  • News
  • New York
  • Technology
  • Culture
  • Entertainment
  • Sport
  • More
    • Politics
    • Lifestyle
    • TV
    • Games
Thursday, May 22, 2025
  • Login
No Result
View All Result
NEWSLETTER
FINCHANNEL
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • Americas
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • lifestyle
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • Americas
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • lifestyle
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE
No Result
View All Result
FINCHANNEL
No Result
View All Result
Home Business

ADB’s Achievements in PNG Highlighted During Portfolio Review Mission

The FINANCIAL by The FINANCIAL
April 27, 2015
in Business
Reading Time: 2 mins read
9
A A
0
Share on FacebookShare on Twitter

The FINANCIAL — The Asian Development Bank (ADB) and the Government of Papua New Guinea (PNG) have signed a Memorandum of Understanding confirming the successful review of the 2014 ADB PNG portfolio.

Hakaua Harry, Acting Secretary of the Government of Papua New Guinea’s Department of National Planning and Monitoring, and Marcelo Minc, Country Director of ADB’s Papua New Guinea Resident Mission, participated in today’s signing ceremony which was held as part of a week-long mission to review the overall performance of the 2014 ADB PNG portfolio, raise implementation issues, and draft an action plan for 2015. 

“ADB is an important development partner to PNG and we value our long-term partnership,” said Ms. Harry.  “Through experiences and lessons learned over the years, we see a stronger and more strategic partnership with ADB effectively delivering high quality economic and social services to PNG, consistent with the Government of PNG’s development plans and strategies.”

RelatedPosts

Navigating Car Insurance in New Orleans: What Locals Need to Know

China’s BYD to set up European HQ and R&D base in Hungary

Two Men Sentenced for Real Estate and Tax Fraud

Munich Re posts net result of €1.1bn in Q1 despite high major-loss expenditure

She noted that in line with PNG’s ADB portfolio obligations, the government has allocated its counterpart funding requirements in the 2015 national budget to ADB projects and is working diligently to ensure the timely release of funds for effective implementation.

“The government is also in the process of formulating its inaugural PNG Development Aid Policy which aims to govern the coordination and management of development aid and ensure strategic alliances between the government and development partners to achieve sustainable development effectiveness and improve the quality of lives of all Papua New Guineans.”

See also  Confidence in regulation of the crypto and digital assets sector is rising, study

 “ADB’s investments in PNG aim to improve connectivity and in doing so drive growth in businesses and jobs and support people’s access to basic social services,” said Mr. Minc at the signing ceremony. “We are delighted to work with the Government of PNG to help them achieve these development goals.”

The review of ADB’s PNG portfolio shows gains in many areas including a reduction in project delays, shorter time periods between loan signing and the loan becoming effective, and more efficient and swift procurement and submission of audited financial statements. The Government of PNG will work through 2015 to resolve the outstanding issues to expedite procurement, according to ADB.

ADB and the Government of PNG, as long term development partners, have made progress in areas including transport infrastructure, renewable energy, rural livelihoods and primary healthcare, and urban water supply and sanitation. Access to financial services is also growing through the Microfinance Expansion Project, cofinanced by the Government of Australia.

PNG joined ADB in 1971 and is now ADB’s largest Pacific region borrower of loans for public and private sector development, while ADB is now PNG’s second-largest development partner. ADB’s active portfolio in the country currently totals $1.1 billion, including 22 ongoing loans for 11 projects; 8 grants; 9 technical assistance projects, and 2 private sector loan and equity operations. From the overall active portfolio, the Government of PNG contributes approximately $250 million.

ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members – 48 from the region.

 

Related Posts

Navigating Car Insurance in New Orleans: What Locals Need to Know
Auto

Navigating Car Insurance in New Orleans: What Locals Need to Know

by The FINANCIAL
May 21, 2025
0

Living in the Big Easy comes with its unique charms – from the vibrant music scene to incredible cuisine. But...

Read more
China’s BYD to set up European HQ and R&D base in Hungary

China’s BYD to set up European HQ and R&D base in Hungary

May 20, 2025
Brooklyn Park Man Pleads Guilty to His Role in $250 Million Feeding Our Future Fraud Scheme

Two Men Sentenced for Real Estate and Tax Fraud

May 16, 2025
Cyber risks are one of the biggest threats to the digital and networked economy

Munich Re posts net result of €1.1bn in Q1 despite high major-loss expenditure

May 15, 2025

Discussion about this post

  • Trending
  • Comments
  • Latest
Ampersand wins £22m five-year contract at London Zoo

Ampersand wins £22m five-year contract at London Zoo

June 25, 2012
China’s BYD to set up European HQ and R&D base in Hungary

China’s BYD to set up European HQ and R&D base in Hungary

May 20, 2025

The World’s First Operating System for Smart Cities

May 16, 2025
Brooklyn Park Man Pleads Guilty to His Role in $250 Million Feeding Our Future Fraud Scheme

Two Men Sentenced for Real Estate and Tax Fraud

May 16, 2025
U.S. Lifts Sanctions on Syria: How This Will Affect Recognition of Russia-occupied Territories?

U.S. Lifts Sanctions on Syria: How This Will Affect Recognition of Russia-occupied Territories?

May 15, 2025
The White House Worth Just Shy of $400 Million

United States Department of State – Diplomatic List

May 21, 2025
Navigating Car Insurance in New Orleans: What Locals Need to Know

Navigating Car Insurance in New Orleans: What Locals Need to Know

May 21, 2025

Why Logistics Firms Need Blockchain Development Services Now

May 21, 2025
China’s BYD to set up European HQ and R&D base in Hungary

China’s BYD to set up European HQ and R&D base in Hungary

May 20, 2025
People Expect All Industries to Demonstrate Corporate Social Responsibility, But Especially the Tech, Food, and Fashion Industries

Reju Announces the site selection of Regeneration Hub One, its first industrial size textile-to-textile recycling center

May 20, 2025
ADVERTISEMENT

Popular Last 24h

  • The White House Worth Just Shy of $400 Million

    United States Department of State – Diplomatic List

    33 shares
    Share 13 Tweet 8
  • China’s BYD to set up European HQ and R&D base in Hungary

    49 shares
    Share 20 Tweet 12
  • Navigating Car Insurance in New Orleans: What Locals Need to Know

    22 shares
    Share 9 Tweet 6
  • Reju Announces the site selection of Regeneration Hub One, its first industrial size textile-to-textile recycling center

    28 shares
    Share 11 Tweet 7
  • Why Logistics Firms Need Blockchain Development Services Now

    15 shares
    Share 6 Tweet 4
  • Ampersand wins £22m five-year contract at London Zoo

    3348 shares
    Share 1339 Tweet 837
  • Over 50% of the top oil and gas companies worldwide suffered data breaches in the past 30 days

    24 shares
    Share 10 Tweet 6

LATEST POSTS

The White House Worth Just Shy of $400 Million

United States Department of State – Diplomatic List

May 21, 2025
Navigating Car Insurance in New Orleans: What Locals Need to Know

Navigating Car Insurance in New Orleans: What Locals Need to Know

May 21, 2025

Why Logistics Firms Need Blockchain Development Services Now

May 21, 2025
China’s BYD to set up European HQ and R&D base in Hungary

China’s BYD to set up European HQ and R&D base in Hungary

May 20, 2025
People Expect All Industries to Demonstrate Corporate Social Responsibility, But Especially the Tech, Food, and Fashion Industries

Reju Announces the site selection of Regeneration Hub One, its first industrial size textile-to-textile recycling center

May 20, 2025
Caspiangas

Over 50% of the top oil and gas companies worldwide suffered data breaches in the past 30 days

May 20, 2025
Lots of stress and high study/work pressure among students and staff

Global careers are leaving young professionals emotionally isolated, finds new research

May 20, 2025

The World’s First Operating System for Smart Cities

May 16, 2025
Brooklyn Park Man Pleads Guilty to His Role in $250 Million Feeding Our Future Fraud Scheme

Two Men Sentenced for Real Estate and Tax Fraud

May 16, 2025
Teacher arrested, charged with distribution and possession of child pornography

Army Soldier Charged with Child Pornography Offenses

May 16, 2025

LATESTBUSINESS

Navigating Car Insurance in New Orleans: What Locals Need to Know

Navigating Car Insurance in New Orleans: What Locals Need to Know

by The FINANCIAL
May 21, 2025
0

China’s BYD to set up European HQ and R&D base in Hungary

China’s BYD to set up European HQ and R&D base in Hungary

by The FINANCIAL
May 20, 2025
0

Brooklyn Park Man Pleads Guilty to His Role in $250 Million Feeding Our Future Fraud Scheme

Two Men Sentenced for Real Estate and Tax Fraud

by The FINANCIAL
May 16, 2025
0

Cyber risks are one of the biggest threats to the digital and networked economy

Munich Re posts net result of €1.1bn in Q1 despite high major-loss expenditure

by The FINANCIAL
May 15, 2025
0

Cryptocurrency Total Market Cap Jumped 80% After COVID-19 Crash

Confidence in regulation of the crypto and digital assets sector is rising, study

by The FINANCIAL
May 15, 2025
0

U.S. Money Reserve Reviews Why Other Nations May Want to Move Away From the Dollar

U.S. Money Reserve Reviews Why Other Nations May Want to Move Away From the Dollar

by The FINANCIAL
May 13, 2025
0

Thomas Priore Discusses How Unified Commerce is Transforming Business Financial Operations

Thomas Priore Discusses How Unified Commerce is Transforming Business Financial Operations

by The FINANCIAL
May 13, 2025
0

Homes Sold Faster than Ever in 2017

Tariffs Spur Home Improvement Shock: ‘Prices to Skyrocket,’ Expert Warns

by The FINANCIAL
May 7, 2025
0

GET IN TOUCH

Submit guest post/Letters to the Editor:

editor (at) finchannel.com

Sales & Marketing: (+995 558) 03 03 03 Email: marketing (at) finchannel.com

Whatsup: (+995 599) 96 52 52

Georgia:

(+995 599) 96 52 52 Email: editor (@) finchannel.com

Postal address: 17 Mtskheta str. Tbilisi, Georgia 0179 The FINANCIAL

RESOURCE

  • Work at the FINANCIAL
  • ePaper
  • Advertise in The FINANCIAL
  • Access ePaper
  • Guest posts
  • Contributed articles
  • AmericanStockNews
  • Coupon Codes
  • GLOSSY MAG
American Culture Center
ACC Partner

GUIDEBOOK

  • Meet our team
  • Invest in Georgia
  • Become contributor
  • Archive

FOLLOW US

  • Facebook
  • Twitter
  • Google+
  • Youtube
No Result
View All Result
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • Americas
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • lifestyle
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE

© 2025 Intelligence Group llc

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.