PNGBLOGS

THE FINANCIAL Papua New Guinea (PNG) and the Asian Development Bank on February 25 signed a loan worth $57.3 million to reduce power shortages in urban areas. The Secretary for the Department of Treasury, Simon Tosali, Chief Executive Officer of PNG Power Limited Tony Koiri, and Officer-in-Charge of the Asian Development Bank 's (ADB) Papua New Guinea Resident Mission Allan Lee signed the loan. The signing ceremony was held at PNG Power's headquarters in Port Moresby. Julianna Kubak, Acting Deputy Secretary-Policy, Department of National Planning and Monitoring, was Master of Ceremonies for the event. ADB's loan to the state power utility, PNG Power Ltd, will fund renewable energy facilities, including run-of-the-river hydropower plant and transmission systems in urban centers in PNG. Only about 10% of PNG's population of 6.5 million has access to grid power, which is largely confined to urban areas. Some provinces suffer regular outages, adversely affecting businesses

THE FINANCIAL Papua New Guinea (PNG) and the Asian Development Bank on February 25 signed a loan worth $57.3 million to reduce power shortages in urban areas. The Secretary for the Department of Treasury, Simon Tosali, Chief Executive Officer of PNG Power Limited Tony Koiri, and Officer-in-Charge of the Asian Development Bank 's (ADB) Papua New Guinea Resident Mission Allan Lee signed the loan. The signing ceremony was held at PNG Power's headquarters in Port Moresby. Julianna Kubak, Acting Deputy Secretary-Policy, Department of National Planning and Monitoring, was Master of Ceremonies for the event. ADB's loan to the state power utility, PNG Power Ltd, will fund renewable energy facilities, including run-of-the-river hydropower plant and transmission systems in urban centers in PNG. Only about 10% of PNG's population of 6.5 million has access to grid power, which is largely confined to urban areas. Some provinces suffer regular outages, adversely affecting busin