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ADB Greenlights USD60.9M Loan for Papua New Guinea
(MENAFN) The Asian Development Bank (ADB) has greenlighted a $60.9 million loan to overhaul water supply and sanitation infrastructure in two urban centers across Papua New Guinea (PNG), the Manila-based lender announced Wednesday.
The financing targets Port Moresby and Vanimo, and is structured across two lending streams — a $30 million regular ordinary capital resources loan and a $30.9 million concessional ordinary capital resources loan. The PNG government will contribute an additional $3 million in counterpart financing.
A separate $1.5 million technical assistance grant from the ADB will fund digital systems integration, institutional capacity building, and a feasibility assessment of potential public-private partnership models.
More than 160,000 residents across Port Moresby and Vanimo stand to gain direct access to safe and reliable water supplies under the initiative. The project will also modernize sanitation facilities to ensure treated wastewater is safely managed and discharged without posing risks to public health or the surrounding environment, the ADB said.
The financing targets Port Moresby and Vanimo, and is structured across two lending streams — a $30 million regular ordinary capital resources loan and a $30.9 million concessional ordinary capital resources loan. The PNG government will contribute an additional $3 million in counterpart financing.
A separate $1.5 million technical assistance grant from the ADB will fund digital systems integration, institutional capacity building, and a feasibility assessment of potential public-private partnership models.
More than 160,000 residents across Port Moresby and Vanimo stand to gain direct access to safe and reliable water supplies under the initiative. The project will also modernize sanitation facilities to ensure treated wastewater is safely managed and discharged without posing risks to public health or the surrounding environment, the ADB said.
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