AUSTRALIA will supply $580 million in financing to support the repair and upgrade of several key ports in Papua New Guinea, many of which are nearing the end of their service life.
Australia’s timely support will assist Papua New Guinea’s Ports Corporation to increase the capacity of critical maritime infrastructure to accommodate larger ships, which will improve trade and connectivity.
Foreign affairs minister Marise Payne said, “Today’s announcement strengthens Australia’s enduring friendship with Papua New Guinea through a fiscally sustainable partnership in quality port infrastructure. It will have broad based economic and social benefits for businesses and communities”.
Minister for trade, tourism and investment Dan Tehan said that this work will make it easier for PNG and other Pacific nations to trade in global markets.
“These upgrades will improve Papua New Guinea’s ports allowing dedicated container ships that operate major trade routes in the Indo-Pacific to make direct calls to Papua New Guinea. This will create further opportunities for Papua New Guinea and the Pacific to engage in global trade”.
Minister for international development and the Pacific, Zed Seselja said, “Works will also include urgent repairs and upgrades for deteriorated coastal wharves that are up to 70 years old.
“By improving community access to healthcare, education and livelihoods, this partnership will make a real difference to people’s lives.”
The investment is financed by the Australian Infrastructure Financing Facility for the Pacific, in response to PNG’s request to support the renewal of critical ports.
