ADB to finance Papua New Guinea’s public sector reform

The Asian Development Bank (ADB) and the Government of Papua New Guinea (PNG) have agreed on a $100 million loan to enhance governance and accountability in the public sector.

The Strengthening Public Sector Management Programme is assisting the government in improving fiscal management, enhancing governance of state-owned enterprises (SOEs), and reinforcing accountability institutions in the country.

The programme aims to enhance governance and accountability in the country by supporting the government in improving legal, regulatory, and institutional frameworks, according to ADB Country Director for PNG Said Zaidansyah.

He also said that climate change considerations will be integrated into public sector management. The programme includes two policy-based loans: $100 million for subprogramme 1 in 2024 and $150 million for subprogramme 2 in 2026.

The initiative focuses on three key areas: enhancing revenue collection and debt management, improving financial reporting and governance of state-owned enterprises, and strengthening accountability frameworks and institutions.

Attribution: The Asian Development Bank report

Subediting: M. S. Salama