Chinese Government provides $5 million loan to strengthen the falling value of PNG’s local currency (Linked to Record ID#43082)

$5M USD

Funder	Unspecified Chinese Government Institution
Recipient Organization	Government of Papua New Guinea
Country	Papua New Guinea
Start Date	Mar 01, 2000
End Date	May 09, 2032
Duration	11,757 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`37611`

Grant Description

Chinese Government provides $5 million loan to strengthen the falling value of PNG’s local currency On March 20 2000, in a meeting with Chinese Ambassador to PNG, Zhao Zhenyu, PNG Prime Minister Sir Mekere Morauta thanked the Chinese Government for providing a $5 million loan (captured in this project) and a $5 million grant (captured via Record ID#43082) to strengthen the falling value of PNG’s local currency (the kina).

📋 Staff Comments

The year uncertain box has been checked, as it is unclear as to when this loan was committed-to.

📚 Sources & References

CHINA MAKES GOOD ON PROMISE TO PAPUA NEW GUINEA
CHINA GIVES US$ 5 MILLION TO AID PNG'S MONEY WOES
PAC - China rewards PNG for Taiwan snub
Premier says Chinese aid to support currency Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.