Australia will supply $580 million in financing to support the repair and upgrade of several key ports in Papua New Guinea, many of which are nearing the end of their service life.
Australia’s timely support will assist Papua New Guinea’s Ports Corporation to increase the capacity of critical maritime infrastructure to accommodate larger ships, which will improve trade and connectivity.
“Today’s 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”, said Senator the Hon Marise Payne, Minister for Foreign Affairs, Minister for Women.
Minister for Trade, Tourism and Investment 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,” said Mr Tehan.
Minister for International Development and the Pacific, Senator the Hon 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.”
This is more than an infrastructure investment. It is a partnership that meets Australia’s commitment to deliver practical and meaningful solutions for Pacific nations at a time of unprecedented economic and strategic challenges in our region.