Wednesday, December 07, 2011

External financing of the 2012 budget

In 2012, seven official development partners will provide K1,390 million grant financing to PNG, The National reports.
The Australia government’s aid component will be the highest through AusAID at 78% or K1.09 billion  while the rest of the help will come in as: United Nations (6%), NZAID (4%), European Union (4%), JICA (3%) and world Bank (1%).
Grant financing is estimated to allocate around K851.7 million (61%) of projects and programmes to the seven MTDP enablers.
Most of it also from AusAID.
In 2012, concessional loan draw downs are estimated to be K479.4 million, which comprises the draw-downs of 23 ongoing and new loans (ADB, World Bank, JICA and China).
The majority of concessional loans target transport rehabilitation and maintenance

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