China Eximbank signs MoU for $330 million loan for Papua New Guinea-China Integrated Agriculture Park

Funder	China (People's Republic of)
Recipient Organization	Papua New Guinea
Country	Papua New Guinea
Start Date	Jun 27, 2017
End Date	Jan 01, 2028
Duration	3,840 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`65039`

Grant Description

China Eximbank signs MoU for $330 million loan for Papua New Guinea-China Integrated Agriculture Park On November 20, 2017, China Eximbank signed a Memorandum of Understanding (MoU) to provide a $330 million loan for the construction of the Papua New Guinea-China Integrated Agriculture Park Project.

The project will see the construction of two duty-free integrated agriculture industrial parks in Eastern Highlands (150 hectares) and Western Highlands (130ha).

PNG government consultations with the governments of Eastern Highlands and Western Highlands, the Department of Agriculture and Livestock, and the developer, China Railway International, commenced in January 2018. 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.