PM goes for infrastructure growth
Prime Minister Peter O’Neill has confirmed that a key priority of the new government will be to improve infrastructure in the form of new roads and access to electricity.
The prime minister was speaking in an interview with Radio Australia’s Pacific Beat programme. He pointed out that 85% of the population in the country live in rural areas where there is lack of transportation, basic education, healthcare and electricity.
Much of the infrastructure programme will be delivered through a $2.7 billion loan from China’s Exim Bank although that is a standby arrangement and ultimately the prime minister is pegging his hopes on the success of the Exxon Mobil led PNG LNG (Liquefied Natural Gas) project. Over the life of the project, the total value of outputs is estimated at US$95 billion according to a 2008 report by ACIL Tasman. (See the PNG LNG website here)