Australia will supply $580 million in financing to help repair and upgrade several ports in Papua New Guinea which are nearing the end of their service life.
The support aims to assist Papua New Guinea’s Ports Corporation increase the capacity of maritime infrastructure to accommodate larger ships.
Federal Trade, Tourism and Investment Minister Dan Tehan said that this work will make it easier for Papua New Guinea and other Pacific nations to trade in global markets.
“These upgrades will improve Papua New Guinea’s ports allowing dedicated container ships that operate major trade routes in the Indo-Pacific to make direct calls to Papua New Guinea. This will create further opportunities for Papua New Guinea and the Pacific to engage in global trade,” Tehan said.
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Minister for International Development and the Pacific, Zed Seselja said works will also include urgent repairs and upgrades for deteriorated coastal wharves that are up to 70 years old.
“By improving community access to healthcare, education and livelihoods, this partnership will make a real difference to people’s lives.”
Foreign Affairs Minister Marise Payne said the announcement strengthens Australia’s enduring friendship with Papua New Guinea through a fiscally sustainable partnership in quality port infrastructure.
“It will have broad based economic and social benefits for businesses and communities,” she said.