Overview

Chinese Government provides $5 million loan to strengthen the falling value of PNG’s local currency (Linked to Record ID#43082)

Commitments (Constant USD, 2023)$11,852,247

Commitment Year•2000Country of Activity•Papua New GuineaDirect Recipient Country of Incorporation•Papua New GuineaSector•Government And Civil SocietyFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Mar 1, 2000

Start (actual): Mar 20, 2000

End (actual): Mar 20, 2000

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

Government Agencies

Unspecified Chinese Government Institution

Receiving agencies

Government Agencies

Government of Papua New Guinea

Implementing agencies

Government Agencies

Government of Papua New Guinea

Loan description

Chinese Government provides $5 million loan to strengthen the falling value of PNG’s local currency

Interest type•Unknown

Narrative

Full Description

Project narrative

On March 20 2000, in a meeting with Chinese Ambassador to PNG, Zhao Zhenyu, PNG Prime Minister Sir Mekere Morauta thanked the Chinese Government for providing a $5 million loan (captured in this project) and a $5 million grant (captured via Record ID#43082) to strengthen the falling value of PNG’s local currency (the kina).

Staff comments

The year uncertain box has been checked, as it is unclear as to when this loan was committed-to.