Source: The National, Friday 19th October, 2012
By JEFFREY ELAPA
TREASURER Don Polye has urged development partners and international financial institutions to shift from a programatic approach to a more sustainable development-oriented approach of development assistance to the country.
Polye said that after meeting with newly appointed World Bank president Dr Kim Yong during the World Bank and International Monetary Fund annual meeting in Tokyo, Japan, last week.
Polye said he met with senior leaders of the Asian Development Bank and advised them of the country’s development needs and how they could come in to help in the development of the country.
He said his advice to the two financial institutions was that they should redirect their focus on helping Papua New Guinea in developing the human resource because the nation’s prosperity lay in the people.
Polye asked the World Bank to introduce a more programatic approach to aid delivery in PNG such as the Asian Development Bank’s Multi-tranche Financing Facility (ADB MFF) for infrastructure and utilities sectors.
He said under the ADB MFF a “pool” of funding was negotiated with the bank and funds were made available to the borrower through the tranches after project costs and other details were finalised.
“I asked them that instead of thinning the programmes, the development partners assist in major projects such as infrastructure and increasing small and medium businesses of locals,” Polye said.
He appealed to the financial institutions to fund four major infrastructure development projects in the country.
Polye said senior officials from the two institutions would be visiting the country at his request early next month and in January to discuss in detail what actions they recommended for developing countries such as Papua New Guinea
TREASURER Don Polye has urged development partners and international financial institutions to shift from a programatic approach to a more sustainable development-oriented approach of development assistance to the country.
Polye said that after meeting with newly appointed World Bank president Dr Kim Yong during the World Bank and International Monetary Fund annual meeting in Tokyo, Japan, last week.
Polye said he met with senior leaders of the Asian Development Bank and advised them of the country’s development needs and how they could come in to help in the development of the country.
He said his advice to the two financial institutions was that they should redirect their focus on helping Papua New Guinea in developing the human resource because the nation’s prosperity lay in the people.
Polye asked the World Bank to introduce a more programatic approach to aid delivery in PNG such as the Asian Development Bank’s Multi-tranche Financing Facility (ADB MFF) for infrastructure and utilities sectors.
He said under the ADB MFF a “pool” of funding was negotiated with the bank and funds were made available to the borrower through the tranches after project costs and other details were finalised.
“I asked them that instead of thinning the programmes, the development partners assist in major projects such as infrastructure and increasing small and medium businesses of locals,” Polye said.
He appealed to the financial institutions to fund four major infrastructure development projects in the country.
Polye said senior officials from the two institutions would be visiting the country at his request early next month and in January to discuss in detail what actions they recommended for developing countries such as Papua New Guinea
No comments:
Post a Comment
Comments on this Post