China Eximbank provides loan worth PGK 419.7 million for Buna Water Supply System Project
Pledged amount
$ 139005937.2533062
Adjusted pledged amount
$ 139005937.2533062
Constant 2021 USD
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Papua New Guinea
Sector
Water supply and sanitation (Code: 140)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Description
In 2018, the Export-Import Bank of China provided a loan for the Bunu Water Supply System Project in Papua New Guinea. The total cost of the project is 475.4 million Kina, the Exim Bank loan will finance 88% of the project and PNG will finance the final 12%, 55.7 million Kina (source: VOLUME 3B PUBLIC INVESTMENT PROGRAM FOR STATUTORY AUTHORITIES AND PROVINCIAL GOVERNMENTS 2019 – 2023). The project will provide a clean water supply to the North West elecorate of Port Moresby, the commercial site of the LNG plant, and the Napanapa, Motukea, and Motuan communities. Water PNG, Ltd. will maintain the project once it is completed. Water PNG also won the construction supervisor contract for the project on March 25, 2019 (source: TC # 52/2019: CONSTRUCTION SUPERVISION, Bunu Water Supply Project). The project is expected to be completed in 2025. The loan has yet to be confirmed as of 2019 (source: Water companies merger queried, VOLUME 3B PUBLIC INVESTMENT PROGRAM FOR STATUTORY AUTHORITIES AND PROVINCIAL GOVERNMENTS 2019 – 2023).
Additional details
Number of official sources
2
Number of total sources
6
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Papua New Guinea [Government Agency]
Implementing agencies [Type]
Water PNG [State-owned Company]