The World Bank announced new program and generous funding for Papua New Guinea agriculture sector, call centre launched for the 2022 elections and the Civil Aviation Development Investment Program eyes phase 2. The business news you need today.
Police Commissioner David Manning delivering his speech at the launch of the 2022 National General Election Security Operations. Credit: Royal Papua Constabulary
Agribusiness
Building on the success of the Productive Partnerships in Agriculture Project, the World Bank launched last week a new agriculture project to help in the development of ‘competitive and diversified’ value chains for coffee, cocoa, coconut, spices and small livestock in 12 PNG provinces.
‘With 80 per cent of Papua New Guineans depending on agriculture to sustain their livelihoods, agriculture has long been, and remains a priority for our engagement in PNG,’ reportedly said World Bank PNG and Pacific Islands Senior Operations Officer Jane Sprouster. The new project, PNG Agriculture Commercialisation and Diversification Project, has allocated K140 million in funding. It’s been reported that K50 million will be given to the Coffee Industry Corporation. (The National)
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The Lai Valley Cooperative Society is a new organisation in Lai Valley, Southern Highlands, aiming to help over 60,000 people living in the region. The cooperative society wants to involve people in projects such as piggeries and poultry farming. The Interim Chairman, Karl Sopol, said: ‘Our target is to have five–ten projects operating in the next five years.’ (The National)
Mining
Mayur Resources has announced a binding offtake agreement with titanium pellet producer Qingdao Shinebest for the sale of magnetite product from its Orokolo Bay Iron and Industrial Sands Project in Gulf Province. The agreement covers 300,000 tonnes per annum for a three-year period, with an option to extend for a further year and is conditional upon the project entering operations by 30 June 2023, and a subsequent trial shipment of 30,000 tonnes performing to the satisfaction of Shinebest. (Mayur Resources)
Partnerships
A Memorandum of Understanding between the United States Agency for International Development (USAID) and Coca-Cola Europacific Partners aims to support and promote women’s empowerment, access to safe water and sustainable economic growth.
‘USAID makes it a top priority to consult, strategize, collaborate and implement with the private sector for greater scale, sustainability, and effectiveness. We are happy to partner with Coca-Cola to enhance our development impact in PNG,’ said USAID Philippines, Pacific Islands, and Mongolia Mission Director Ryan Washburn. (LOOP PNG)
Aviation
Memorandum of Understanding for CADIP phase 2. Credit: NAC
The key partners in the Civil Aviation Development Investment Program (CADIP) signed a Memorandum of Understanding that opens up the road for the second phase of CADIP.
The National Airports Corporation, Asian Development Bank (ADB), Department of National Planning, Department of Transport and Civil Aviation Agencies held a series of discussions with aviation entities in PNG to agree on the project scope of works. CADIP phase 2 is expected to cost US$171.5 million (K605 million). The ADB is expected to fund US$162.9 million (K574 million) with the PNG government covering the rest. (National Airports Corporation)
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Infrastructure
The World Bank has committed over US$200 million (K722 million) for three projects in PNG. The first is the Resilient Transport Project, which, among other things will fund the rehabilitation of the Ramu and Hiritano highways and its multiyear maintenance. The second is a the Child Nutrition and Social Protection Project worth over US$80 million (K281 million); and the third is the Enhancing Labour Mobility from PNG project that will benefit from US$32 million (K113 million). It will benefit Papua New Guineans looking from employment opportunities in Australia and New Zealand to gain skills and then bring back that knowledge to their communities. The Australian government is also pledging funds for these projects. (World Bank)
Manufacturing
Inauguration of the new Laga Industries administration offices in Lae. Credit: Laga Industries
Ice-cream manufacturer Laga Industries has opened its new K2.2 million administration offices in Lae. The complex was built to accommodate Laga’s HR, Finance and IT teams. The old building is being demolished to ‘make way for more production space within the ice-cream factory site’ (Laga Industries)
COVID-19
BSP Financial Group Limited and the Brian Bell Group have made wearing face masks voluntary for employees and customers. The CEO of Brian Bell Group, Cameron MacKellar, told The National the company’s ‘workforce is 100 per cent vaccinated’ and that it would ‘revert to appropriate actions’ should they see a spike in positive COVID cases. (The National)
Elections
The Royal PNG Constabulary has announced the establishment of a call centre for the 2022 National General Elections, which started on 4 July. The Joint Security Task Force Call Centre hotline number is 1800500. Those calling can request information on polling schedules and polling sites, or report election-related concerns or crimes.
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Fantastic! Great innovative projects. On behalf of the people and government of Enga Province and more precisely the Coffee Farmers of Ambum Valley I take this time to thank the World Bank the Productive Partnership in Agriculture Project to empower so many communities of PNG to increase production, improve capacity, create employment and generate sound cash economy through a well structured implementation strategy was explicit, Well done. Ambum Agricultural Integrated Projects acknowledge the WB and GoPNG for the initiative.
Johannes Yola Kofiman