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China Eximbank pledges to loan $3.5 billion for the High Priority Economic Roads Project
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Government of Papua New Guinea |
| Country | Papua New Guinea |
| Start Date | Nov 20, 2017 |
| End Date | Mar 03, 2026 |
| Duration | 3,025 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 65040 |
Grant Description
China Eximbank pledges to loan $3.5 billion for the High Priority Economic Roads Project On November 20, 2017, the China EXIM bank signed a MoU to loan $3.5 billion to Papua New Guinea for the High Priority Economic Roads Project.
The project is to address the concern that PNG’s capital Port Moresby is not linked to any major towns, and most highland villages can only be reached by light aircraft or on foot.
It plans to upgrade the 10 roads that will link and connect the whole of PNG, and will include a total of 1,600km of roads. China Railway Fifth Engineering Group Co. Ltd. will be handling implementation duties.
Sources & References
- PNG
- China in big infrastructure deal
- 驻巴布亚新几内亚大使薛冰陪同巴新总理奥尼尔出席中巴新合作项目签约仪式
- China to build Papua New Guinea’s first national road system
- China-PNG sign huge deal for roads & infrastructure
- China to fund about K14 billion projects, **** New Infrastructure Projects with China will Change Lives – Direct Investment by China Railway Group in PNG Economy ****
- VOLUME 3 PUBLIC INVESTMENT PROGRAM 2018 – 2022 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.
All Grantees
Government of Papua New Guinea
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