Tuesday, August 10, 2010

Bougainville to get K5m yearly

PAPUA New Guinea will continue to support the Autonomous Region of Bougainville with an annual grant of K5 million, The National reports.

Bougainville Affairs Minister Fidelis Semoso said this was agreed to at a special joint supervisory body meeting between the state and ABG last Friday in Port Moresby.

“The K5 million grant will help support the administration of the autonomous government annually,” Semoso said.

The allocation was contained in the Bougainville Peace Agreement signed in 2001, which also included recurrent unconditional grants, until the ABG becomes fiscally self-reliant.

“It costs the ABG K11 million to administer its affairs.

“The remaining K6 million will be derived from the autonomous government’s internal revenue,” he said.

Other topics discussed last Friday included weapons disposal, preparation of the Bougainville Copper Agreement (BCA) review and the restoration and development grant of K15 million from the state.

Bougainville affairs director Ellison Towallom said the next special meeting would be in Rabaul from Aug 23-25.



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