Overview

China grants PNG $1m to boost economy

Commitments (Constant USD, 2023)$2,308,585

Commitment Year•2002Country of Activity•Papua New GuineaSector•General Budget SupportFlow Type•Grant

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2002

Start (actual): Sep 23, 2002

End (actual): Sep 23, 2002

Stakeholders

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

Funding agencies

Government Agencies

Unspecified Chinese Government Institution

Implementing agencies

Government Agencies

Government of Papua New Guinea

Loan description

China grants PNG $1m to boost economy

Narrative

Full Description

Project narrative

Summary: On September 23, 2002, Chinese goverment sent aid to Papua New Guinea with 1 million US dollars(4 million Kina) in cash grants to boost its troubled economy. China is the first nation from the Friends of PNG grouping to support the Somare government in current economic difficulties.